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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.
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.
As there was still a demand for the software, Limm and Percival created Jelsoft and released their work as a paid solution, called v Bulletin 1.
After subsequent minor releases of their Software, the two decided to start working on a new version that would be more than a rewrite of UBB: they wanted to turn their software into a competitive solution for forums.
On 29 October 2010, Internet Brands filed a second lawsuit in the United States District Court for the Central District of California through its wholly owned subsidiary v Bulletin Solutions, Inc.
Shortly thereafter, Limm became the managing director and Percival the lead developer.
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.
During this time Jeremy Hutchings joined the development team, a.k.a. However, version 3 was finally released in March 2004.
In 2005, v Bulletin 3.5 was released that addressed some of the shortcomings of 3.0 (discussed later on).When this version was released, it had numerous new features over v Bulletin 1, which it replaced.