The release of v Bulletin 2 proved to be very successful and is what made v Bulletin popular.
In December 2002, v Bulletin 3 was beginning development.
The latest stable release of v Bulletin 3 is 3.8.11 which was released on 10th May 2017, and is a maintenance and compatibility release (for PHP 7.x compatibility).
v Bulletin 4 was described in this announcement as "an extensive rewrite of the v Bulletin system.
The lawsuit alleges "widespread infringement and unlawful exploitation" of v Bulletin's source code and "equally damaging misappropriation of trade secrets" developed and owned by v Bulletin with "investments of millions of dollars over the last ten years." The lawsuit further alleges that the developers of Xen Foro Ltd.
"took with them virtually every type of document a competitor would need to enter the market and unlawfully create a competing bulletin board software program." Since the initial release of the v Bulletin forum product in 2000, there have been many changes and improvements.
Improvements include private messaging between users, attaching polls to threads, unlimited forum nesting, user avatars, and a user control panel. Initially, version 3.0 was intended to be an extension of the 2.x release that would improve performance and user experience.
In 2009, long-time developers Kier Darby, Mike Sullivan, Scott Mac Vicar and Jeremy Hutchings left the company.
Kevin Sours, Don Kuramura, and Ray Morgan took Darby's place as lead developer, product manager, and general manager, respectively.
Percival decided to step down as lead developer and product manager, turning his roles over to Kier Darby.
v Bulletin 3 was under development for nearly two years as it went from a mere improvement on v Bulletin 2 to a complete rewrite.