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Investigation
04/16/2021
Initial Lawsuit
04/16/2021
Lawsuit Progression
11/23/2021
An Intrusion, Inc. (INTZ) investor filed a securities class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Intrusion securities between January 13, 2021, and April 13, 2021, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(1) that Intrusion’s Shield product was merely a repackaging of existing technology in the Company’s portfolio;
(2) that Shield lacked the patents, certifications, and insurance critical to the sale of cybersecurity products;
(3) that the Company had overstated the efficacy of Shield’s purported ability to protect against cyberattacks;
(4) that, as a result of the foregoing, Intrusion’s Shield was reasonably unlikely to generate significant revenue;
(5) 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.
