Energy News / Shareholders Foundation, Inc.

Intelligent Systems Corporation (NYSE:INS) Investor Notice: Lawsuit Alleges False and Misleading Statements

Via: ReleaseWire

Updated 11:30 AM CDT, Wed, August 07,2019

A lawsuit was filed on behalf of investors in Intelligent Systems Corporation (NYSE: INS) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 08/07/2019 -- An investor, who purchased shares of Intelligent Systems Corporation (NYSE: INS), filed a lawsuit over alleged violations of Federal Securities Laws by Intelligent Systems Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Intelligent Systems Corporation (NYSE: INS) have certain options and for certain investors are short and strict deadlines running. Deadline: September 9, 2019. NYSE: INS investors should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

Norcross, GA based Intelligent Systems Corporation, through its subsidiary, CoreCard Software, Inc., provides technology solutions and processing services to the financial technology and services market in the United States and European Union. On May 24, 2019, a report was published alleging that the financial expert of the Company's Audit Committee had engaged in improper accounting practices and that its Chief Executive Officer had engaged in numerous undisclosed related party transactions.

The plaintiff claims that between January 23, 2019 and May 29, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Defendant Petit, the "financial expert" on Intelligent Systems' Audit Committee engaged in accounting fraud as the CEO of MiMedx Group, Inc, that Intelligent Systems' CEO, Defendant Strange, engaged in undisclosed related-party transactions with Defendant Petit and others and had an undisclosed personal relationship with the Company's auditor, that Intelligent Systems had its employees set up or take control of shell companies in Asia so they could partake in undisclosed related-party transactions for the purpose of either fabricating revenue for the Company and/or siphoning money out of the Company, and that as a result, defendants' statements about Intelligent Systems' business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times

Those who purchased shares of Intelligent Systems Corporation (NYSE: INS) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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Media Relations Contact
Michael Daniels
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