Intelligent Systems Corporation Securities Litigation
On or around 03/03/2020 (Date of last review)
Filing Date: July 09, 2019
According to the Complaint, Intelligent Systems purports to primarily engaged in the business of providing technology solutions and processing services to the financial technology and services market.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) one of the Defendants engaged in accounting fraud as the CEO of MiMedx Group, Inc.; (2) Intelligent Systems’ CEO engaged in undisclosed related-party transactions with others and had an undisclosed personal relationship with the Company’s auditor; (3) 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 (4) 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.
On September 26, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 18.
Company & Securities Information
Defendant: Intelligent Systems Corporation
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: INS
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Michael Skrzeczkoski, et al. v. Intelligent Systems Corporation, et al.