NEW YORK, July 31, 2019 /PRNewswire/ -- WeissLaw LLP,
a national class action and shareholders' rights law firm with
offices in New York, Los Angeles and Atlanta, announces an investigation of
Intelligent Systems Corporation (NYSE: INS) ("INS," or the
"Company"), its Board of Directors, and certain Company officers
for, among other things, possible breaches of fiduciary duty and
violations of federal securities laws.
If you are a shareholder of INS who wishes to
discuss the investigation or have any questions about this notice
and your rights or interests, please
contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212)
682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our
website
http://www.weisslawllp.com/intelligent-systems-corporation/
Or follow us on Twitter @MarketsAlert
On May 24, 2019, a report was
published accusing INS' CEO, J. Leland
Strange, and an INS Board member of having an undisclosed
personal relationship with the Company's auditor, and engaging in
undisclosed party-related transactions. On this and
subsequent news casting doubt on the Company's fiscal 2018 revenue
growth and attributing the increase to a round-trip revenue scheme,
INS share price plummeted from $39.66
per share to $26.39.
WeissLaw is investigating whether INS' Board (1) failed to meet
the recordkeeping requirements and accounting provisions
established by federal securities laws; (2) failed to establish
and/or maintain comprehensive internal controls to safeguard
against financial reporting errors; and consequently, (3) reported
improper revenues from services.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients.
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SOURCE WeissLaw LLP