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SAN FRANCISCO , July 15, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, alerts investors in Intelligent Systems Corporation (NYSE: INS) to the securities class action, Skrzeczkoski v. Intelligent Systems Corporation et al., No. 1:19-cv-03949, filed in the U.S. District Court for the Eastern District of New York.
If you purchased or otherwise acquired Intelligent Systems securities between January 23, 2019 and May 29, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than September 9, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misled investors by concealing (1) Intelligent Systems’ Audit Committee’s financial expert previously engaged in accounting fraud as the CEO of MiMedx Group, (2) the Company’s CEO engaged in undisclosed related-party transactions and had an undisclosed personal relationship with its auditor, and (3) the Company had its employees set up or take control of shell companies in Asia so they could either fabricate Company revenues or siphon money out of the Company.
“We’re focused on investors’ losses and whether the Company and senior executives may have misled investors about the economic substance of certain transactions,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Intelligent Systems should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email INS@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm representing investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000