An investigation on behalf of current long term investors in Intelligent Systems Corporation (NYSE: INS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 12/05/2019 -- Certain directors of Intelligent Systems Corporation are under investigation over possible breaches of fiduciary duties.
Investors who are current long term investors in Intelligent Systems Corporation (NYSE: INS) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org 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.
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.
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