Investors with losses are encouraged to contact the firm before June 15, 2021; click here to submit trade information
LOS ANGELES, June 15, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Intrusion, Inc. (NASDAQ: INTZ) investors that acquired shares between January 13, 2021 and April 13, 2021. Investors have until June 15, 2021 to seek an active role in this litigation.
White Diamond Research published a report on April 14, 2021 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.” It was stated in this report that “Shield is a repackaging of pre-existing technology rather than an innovative offering.” This report also 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,” which led 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?”. During intraday trading on April 14, 2021, Intrusion’s share price fell as much as 11%, based on this news.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 15, 2021.
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The Portnoy Law Firm represents investors in pursuing arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.