Join The Class Action Suit
Company: Intrusion Inc.
Class Period: January 13, 2021 — April 13, 2021
Court: U.S.D.C. – Eastern District of Texas
Deadline: June 15, 2021
A shareholder class action lawsuit has been filed against Intrusion Inc. (“Intrusion” or the “Company”) (NASDAQ: INTZ) on behalf of investors who purchased shares of the Company’s stock between January 13, 2021 and April 13, 2021, inclusive (the “Class Period”).
According to the complaint, Intrusion develops, sells, and supports products that purport to protect entities from cyberattacks by combining advanced threat intelligence with real-time artificial intelligence.
On April 14, 2021, White Diamond Research published a report 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?”
Following this news, shares of the Company’s common stock fell $7.72 per share over two trading days, or over 27% in value, to close at $20.53 on April 15, 2021, on unusually heavy trading volume.
IMPORTANT DEADLINE: Investors who purchased Intrusion’s common stock during the Class Period may, no later than June 15, 2021, seek to be appointed as a lead plaintiff representative in the action.
Intrusion investors who suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about the opportunity to actively participate in the action as a lead plaintiff representative.