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Investigation announced for Long-Term Investors in Intelligent Systems Corporation (NYSE: INS) shares

11-18-2019 10:31 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Intelligent Systems Corporation (NYSE: INS) shares.

An investigation on behalf of current long term investors in Intelligent Systems Corporation (NYSE: INS) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Intelligent Systems Corporation.

Investors who are current long term investors in Intelligent Systems Corporation (NYSE: INS) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: INS stocks follows a lawsuit filed against Intelligent Systems Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: INS stocks, concerns whether certain Intelligent Systems Corporation directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that 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.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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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