{"id":477645,"date":"2021-04-16T17:53:07","date_gmt":"2021-04-16T21:53:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/intz-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-intrusion-inc\/"},"modified":"2021-04-16T17:53:07","modified_gmt":"2021-04-16T21:53:07","slug":"intz-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-intrusion-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/intz-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-intrusion-inc\/","title":{"rendered":"INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc."},"content":{"rendered":"

<\/p>\n

INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc.<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Texas captioned Celeste v. Intrusion Inc., et al.,<\/i> (Case No. 4:21-cv-307) on behalf of persons and entities that purchased or otherwise acquired Intrusion Inc. (\u201cIntrusion\u201d or the \u201cCompany\u201d) (NASDAQ: INTZ<\/a>) securities between January 13, 2021 and April 13, 2021<\/b>, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d).\n<\/p>\n

\nInvestors are hereby notified that they have 60 days from this notice<\/b> to move the Court to serve as lead plaintiff in this action.\n<\/p>\n

\nIf you suffered a loss on your Intrusion investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/intrusion-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> or visit our website at www.glancylaw.com<\/a> to learn more about your rights.\n<\/p>\n

\nIntrusion develops, sells, and supports products that purport to protect entities from cyberattacks by combining advanced threat intelligence with real-time artificial intelligence. It offers three products: Shield, a cybersecurity solution packaged as a comprehensive, real-time AI-based Security-as-a-Service; TraceCop, a big data tool with IP intelligence, including reputation information on known good and known bad active IP addresses; and Savant, a network monitoring solution that identifies suspicious traffic in real-time.\n<\/p>\n

\nOn April 14, 2021, White Diamond Research published a report alleging, among other things, that Intrusion\u2019s product, Shield, \u201chas no patents, certifications, or insurance, which are all essential for selling cybersecurity products\u201d and that \u201cShield is based on open-source data already available to the public.\u201d Thus, the report stated that \u201cShield is a repackaging of pre-existing technology rather than an innovative offering.\u201d Moreover, the report alleged that the claims that Shield \u201cstopp[ed] a total of 77,539,801 cyberthreats from 805,110 uniquely malicious entities . . . in the 90-day beta program\u201d were \u201coutlandish,\u201d leading White Diamond to question \u201c[h]ow have these companies been able to function so far, as they\u2019ve been attacked many times per minute by ransomware, malware, data theft, phishing and DDoS attacks?\u201d\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $4.50, or over 16%, to close at $23.75 per share on April 14, 2021, on unusually heavy trading volume. The share price continued to decline by $3.22, or 14%, over the next trading session to close at $20.53 per share on April 15, 2021.\n<\/p>\n

\nThroughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Intrusion\u2019s Shield product was merely a repackaging of existing technology in the Company\u2019s 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\u2019s purported ability to protect against cyberattacks; (4) that, as a result of the foregoing, Intrusion\u2019s Shield was reasonably unlikely to generate significant revenue; and (5) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Intrusion securities during the Class Period, you may move the Court no later than 60 days from this notice <\/b>ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210416005568\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles H. Linehan, 310-201-9150 or 888-773-9224
\n
1925 Century Park East, Suite 2100
\n
Los Angeles, CA 90067
\n
www.glancylaw.com
\n<\/a>
shareholders@glancylaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc. LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Texas captioned Celeste v. Intrusion Inc., et al., (Case No. 4:21-cv-307) on behalf of persons and entities that purchased or otherwise acquired Intrusion Inc. (\u201cIntrusion\u201d or the \u201cCompany\u201d) (NASDAQ: INTZ) securities between January 13, 2021 and April 13, 2021, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). Investors are hereby notified that they have 60 days from this notice to move the … <\/p>\n

Continue reading “INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-477645","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/intz-class-action-notice-glancy-prongay-murray-llp-files-securities-fraud-lawsuit-against-intrusion-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INTZ CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Intrusion Inc. LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Texas captioned Celeste v. Intrusion Inc., et al., (Case No. 4:21-cv-307) on behalf of persons and entities that purchased or otherwise acquired Intrusion Inc. (\u201cIntrusion\u201d or the \u201cCompany\u201d) (NASDAQ: INTZ) securities between January 13, 2021 and April 13, 2021, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). 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LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Texas captioned Celeste v. Intrusion Inc., et al., (Case No. 4:21-cv-307) on behalf of persons and entities that purchased or otherwise acquired Intrusion Inc. (\u201cIntrusion\u201d or the \u201cCompany\u201d) (NASDAQ: INTZ) securities between January 13, 2021 and April 13, 2021, inclusive (the \u201cClass Period\u201d). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d). 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