On June 11, 2021, certain shareholders (who originally filed the Dallas lawsuit) filed a new lawsuit against William Mills. On October 18, 2021, this lawsuit was settled between certain shareholders, Vertical and Mr. Mills. Under the terms of the settlement, Mr. Mills will return 5,200,000 VCSY common shares to certain shareholders who helped fund the lawsuit and Vertical as well as cash. All parties mutually released one another and Vertical will be reducing any liabilities related to Mr. Mills and his law firm Parker Mills, LLP on Vertical’s balance sheet by almost $600,000 when the court entered the Agreed Order of Dismissal. For more details about court filings for this case, please visit the Collin County Courts Case Portal below. Please note that copies of actual filings are not available online
