San Diego, CA -- (SBWire) -- 04/27/2021 --An investor, who purchased NASDAQ: INTZ shares, filed a lawsuit against Intrusion Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of Intrusion Inc. (NASDAQ: INTZ) have certain options and for certain investors are short and strict deadlines running. Deadline: June 15, 2021. NASDAQ: INTZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 14, 2021, a report was published alleging, among other things, that Intrusion's product, Shield, "has no patents, certifications, or insurance, which are all essential for selling cybersecurity products" and that "Shield is based on open-source data already available to the public." Thus, the report stated that "Shield is a repackaging of pre-existing technology rather than an innovative offering." Moreover, the report alleged that the claims that Shield "stopp[ed] a total of 77,539,801 cyberthreats from 805,110 uniquely malicious entities . . . in the 90-day beta program" were "outlandish," leading White Diamond to question "[h]ow have these companies been able to function so far, as they've been attacked many times per minute by ransomware, malware, data theft, phishing and DDoS attacks?"
The plaintiff claims that between January 13, 2021 and April 13, 2021, the Defendants failed to disclose to investors that Intrusion's Shield product was merely a repackaging of existing technology in the Company's portfolio, that Shield lacked the patents, certifications, and insurance critical to the sale of cybersecurity products, that the Company had overstated the efficacy of Shield's purported ability to protect against cyberattacks, that, as a result of the foregoing, Intrusion's Shield was reasonably unlikely to generate significant revenue, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Intrusion Inc. (NASDAQ: INTZ) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:INTZ Shareholder Notice: Lawsuit Alleges Securities Laws Violations by Intrusion Inc.
A lawsuit was filed on behalf of investors in Intrusion Inc. (NASDAQ:INTZ) shares over alleged securities laws violations.