Press release
Lawsuit filed for Investors in shares of Intrusion Inc. (NASDAQ: INTZ)
An investor, who purchased shares of Intrusion Inc. (NASDAQ: INTZ), filed a lawsuit over alleged violations of Federal Securities Laws by Intrusion Inc.
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.
Plano, TX based Intrusion Inc. develops, markets, and supports entity identification, data mining, cybercrime, and advanced persistent threat detection products in the United States. 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?”
Shares of Intrusion Inc. (NASDAQ: INTZ) declined from $28.77 per share on April 13, 2021, to as low as $14.16 per share on April 20, 2021.
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:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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.
Plano, TX based Intrusion Inc. develops, markets, and supports entity identification, data mining, cybercrime, and advanced persistent threat detection products in the United States. 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?”
Shares of Intrusion Inc. (NASDAQ: INTZ) declined from $28.77 per share on April 13, 2021, to as low as $14.16 per share on April 20, 2021.
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:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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