Jan. 11, 2013 (Update) -- The U.S. Securities and Exchange Commission filed a lawsuit against Volt Information Sciences, Inc. and two former officers over alleged Securities Violations in connection with allegedly improper accounting. Volt Information Sciences settled the lawsuit with the SEC.

San Diego, Aug 22, 2011 (Shareholders Foundation) -- Certain officers and directors of Volt Information Sciences, Inc. are under investigation on behalf of investors in shares of Volt Information Sciences, Inc. (PINK: VISI) over possible breaches of Fiduciary Duties.

The investigation by a law firm focuses on possible Volt Information Sciences, Inc. (Public, PINK:VISI shareholder claims based on potential breaches of fiduciary duties by certain of Volt Information Sciences officers and directors. Specifically the investigation concerns certain statements regarding Volt Information Sciences business, its prospects and its operations were materially false and misleading at the time they were made.

Volt Information Sciences reported that its 52/53 week Total Revenue rose from $2.17billion reported on October 30, 2005 to $2.42billion reported on Nov. 02, 2008.
Then in September 9, 2009, Volt Information Sciences, Inc. issued a press release announcing that it will delay its third quarter earnings release and investor conference call, previously scheduled for Thursday, September 10, 2009.

On October 6, 2009, Volt Information Sciences, Inc. (NYSE: VOL) updated the information provided in its press release of September 9, 2009 concerning its reexamination of accounting in prior periods for revenues under certain customer contracts.

Then on December 23, 2009, Volt Information Sciences, Inc. (NYSE: VOL updated the information provided in its press release of October 6, 2009.
On January 15, 2010: Volt Information Sciences, Inc. (NYSE: VOL) updated the information provided in its previous press releases, most recently December 23, 2009, concerning its review of whether certain revenues and associated costs under certain customer contracts, recognized during fiscal years 2002 through 2008 and the first two quarters of fiscal 2009 by its Computer Systems segment, should be recognized in periods other than the periods in which they were recognized.

Then on July 26, 2010, Volt Information Sciences, Inc. (NYSE: VOL) announced that the New York Stock Exchange has provided the Company an additional extension, until December 31, 2010, to file its Annual Report on Form 10-K for the year ended November 1, 2009 with the Securities and Exchange Commission in order to maintain the continued listing and trading of the Companys common stock on the NYSE.
On November 8, 2010, Volt Information Sciences, Inc. (NYSE: VOL) updated information on its cash and borrowings position.
Then on January 19, 2011, Volt Information Sciences, Inc. (NYSE: VOL) provided a business update and reported selected unaudited financial information for its fiscal years 2009 and 2010. Volt Information Sciences said that, due to a previously announced accounting review, all numbers presented in this release are estimates.

On January 26, 2011, Volt Information Sciences, Inc. (NYSE: VOL) announced that its common stock will commence trading on the over-the-counter market under OTC: VISI at the opening of trading on January 27, 2011.

Shares of Volt Information Sciences, Inc. (Public, PINK: VISI) fell from as high as $10.65 per share in May to a close of $7.50 on August 19, 2011.