WeissLaw LLP: Intelligent Systems Corporation (INS) is the Subject of a Legal Investigation

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, 16^th Floor
New York, NY  10036
(212) 682-3025
(888)593-4771
[email protected]
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.  

SOURCE WeissLaw LLP

Related Links

http://www.weisslawllp.com