The Florida law firm of Vianale & Vianale LLP announces that it filed a class action lawsuit on April 12, 2007 on behalf of purchasers of the securities of Viseon, Inc. (OTC BB:VSNI.OB - News) between November 3, 2004 and May 15, 2006. A copy of the complaint can be obtained by calling our offices or viewed on Vianale & Vianale LLP's website at: www.vianalelaw.com. The action (Case No. 3-07CV0631-K) is pending in the Northern District of Texas, Dallas Division.
The complaint alleges violations of the Securities Exchange Act of 1934. During the class period, Viseon issued a series of statements relating to Viseon's next generation VisiFone broadband video phone. Viseon claimed to have developed the VisiFone II, the next generation of consumer telephony. Viseon failed to disclose to the public that the development of the VisiFone II was only partially completed, and that it was not ready for production. The complaint alleges that Viseon and its officers were well aware of production problems in connection with the VisiFone II. On May 15, 2006, Viseon announced in a public filing that minimal revenue was recorded on the deployment of units of next generation VisiFones to carriers since the deployments continued to be for trial-purposes only. Viseon's stock price fell as a result of this announcement. The stock is currently trading at $0.01.
If you bought the securities of Viseon between November 3, 2004 and May 15, 2006, no later than June 18, 2007, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class member's claim is typical of other members' claims, and whether the class member will adequately represent the class. Your ability to recover is not affected by the decision whether or not to serve as a lead plaintiff. Vianale & Vianale LLP has a lawsuit currently pending in this case, and is active in major litigations pending in federal and state courts. More about the firm is available on its website.
If you wish to discuss the case against Viseon with us, or have any questions concerning our pending lawsuit, this notice or your rights and interests with regard to this case, please contact:
Contact:
Kenneth J. Vianale, Esq.
Julie Prag Vianale, Esq.
Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431
888-657-9960 (Toll Free)
(561-392-4750)
Email: Email Contact
Source: Vianale & Vianale LLP
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