Thieler Law Corp advises investors with losses exceeding $100,000 of the June 15, 2021 lead plaintiff deadline in a class action lawsuit filed against Intrusion Inc. (NASDAQ: INTZ) (Intrusion Inc. or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of Texas and investors, who purchased Intrusion Inc. securities between January 13, 2021 and April 13, 2021, have until June 15, 2021 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Intrusion Inc. securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

Intrusion 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 AIbased 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.

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

On this news, the Company’s 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.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Intrusion’s Shield product was merely a repackaging of existing technology in the Company’s portfolio; (2) Shield lacked the patents, certifications, and insurance critical to the sale of cybersecurity products; (3) the Intrusion had overstated the efficacy of Shield’s purported ability to protect against cyberattacks; (4) as a result of the foregoing, Intrusion’s Shield was reasonably unlikely to generate significant revenue; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you were negatively impacted by your investment in Intrusion Inc. (NASDAQ: INTZ) securities between January 13, 2021 and April 13, 2021 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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