Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Intrusion, Inc. and Encourages Investors to Contact the Firm

NEW YORK, June 12, 2021 – (BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Texas by investors who have purchased Intrusion, Inc. (NASDAQ: INTZ) securities between January 13, 2021 and April 13, 2021, inclusive (the “Class Period”). Investors have until June 15, 2021 to apply to the court for appointment as the lead plaintiff in the proceedings.

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On April 14, 2021, White Diamond Research released a report claiming, among other things, that Intrusion’s product, Shield, “has no patents, certifications, or insurance, all of which are essential for selling cybersecurity products” and that “Shield is based on open source data that is already available to the public. ”The report said,“ Shield is a repackaging of existing technology rather than an innovative proposition. ”Furthermore, the report claimed that the claims that Shield” ” stop “[ed] 77,539,801 total cyber threats from 805,110 clearly malicious entities. . . in the 90-day beta program “failed”, which led White Diamond to “[h]How have these companies been able to function so far as they have been attacked many times per minute by ransomware, malware, data theft, phishing and DDoS attacks? “

As a result of this news, the company’s share price fell $ 4.50, or over 16%, to close at $ 23.75 per share on April 14, 2021. The stock price continued to drop $ 3.22, or 14%, during the next trading session, closing at $ 20.53 per share on April 15, 2021.

The lawsuit, filed on April 16, 2021, alleges that defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the business, operations and prospects of the company during the class action period. In particular, Defendants have 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 needed to sell cybersecurity products; (3) that the company had overestimated the effectiveness of Shield’s alleged ability to protect against cyberattacks; (4) that Intrusion’s Shield would not reasonably generate any significant income as a result of the foregoing; and (5) that, based on the foregoing, Defendants’ positive statements about the business, operations, and prospects of the Company were materially misleading and / or improperly based.

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If you have acquired Intrusion securities during the Class Action Period and suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at [email protected], by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210611005495/en/

contacts

Bragar Adler & Knappe, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

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