BOCA RATON, Fla.–LAWFUEL – US Business & Law News –vFinance, Inc. (OTCBB:VFIN), a financial services company that is an industry leader in providing high growth companies and investors seeking above market returns access to a full range of investment banking, trading and investment opportunities, intends to give notice of a Federal Rule 11 claim seeking sanctions against plaintiffs and their attorneys in the Dobi Medical matter for their filing of frivolous and baseless claims against vFinance, Inc.
Plaintiff’s originally filed a lawsuit against Sterling Financial in 2005 prior to vFinance’s acquisition of certain select assets from Sterling Financial which was closed May 11, 2006. vFinance did not assume any liabilities of Sterling Financial in that transaction in which vFinance paid adequate consideration following a thorough review and approval by the NASD over a 4 month period and for which Sterling obtained an independent fairness opinion. Additionally, Sterling was originally indemnified by Dobi Medical.
vFinance, Inc. believes that these claims against it are completely without merit and vFinance will vigorously seek sanctions against the plaintiffs and their attorneys for this frivolous lawsuit. “With our legal system any company or person can be sued but fortunately there are federal court remedies for victims like vFinance against this abuse of the legal system and appropriate sanctions which can be enforced,” said Leonard Sokolow, CEO and President of vFinance, Inc.
About vFinance, Inc.
vFinance, Inc. (www.vfinance.com) is a global financial services company which specializes in emerging opportunities. The Company provides investment banking and advisory services to micro, small and mid-cap high-growth companies. Institutional and high net-worth investors seeking above-market returns are offered a full range of investment opportunities and asset management services in over 30 cities in the U.S. and other parts of the world. Institutional investors can gain direct market access (DMA) and execute orders for most securities through one of the many electronic trading platforms offered by vFinance. These platforms route orders to the NYSE, NASDAQ, ECNs, and to vFinance’s trading desk. The Company’s trading desk offers market making over 3500 micro and small cap stocks, ADR liquidity pools, and effective market liquidation strategies. vFinance also provides its expertise and order execution services for fixed income securities, including treasuries, bonds, and emerging market sovereign debt. The Company possesses an exceptional understanding of small-cap and micro-cap market stocks gained from its specialized market making and investment banking activities, and from the large number of plans posted, summarized, or described on its website which is ranked as a leading destination for companies seeking capital, with one half million unique visitors annually from over 175 countries.
For vFinance, Inc. Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements by management, statements concerning internal operations, marketing, management’s plans, objectives and strategies, and management’s assessment of market factors and conditions, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitations, the volatility of domestic and international financial, bond and stock markets, intense competition, extensive governmental regulation, litigation, substantial fluctuations in the volume and price level of securities and other risks as detailed in the Company’s filings with the Securities and Exchange Commission. vFinance, Inc. assumes no obligation to update any forward-looking information in this press release.
