Defendant Name: Intrusion Inc.

Defendant Type: Public Company
SIC Code: 3674
CUSIP: 46121E20

Initial Case Details

Legal Case Name SEC v. Intrusion Inc.
First Document Date 26-Sep-2023
Initial Filing Format Civil Proceeding
Case Number 23-cv-00859
Allegation Type Issuer Reporting and Disclosure
Federal District Court Texas, Eastern District of Texas

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Sec 13(a)
• Rule 13a-11
• Rule 13a-15
Securities Act
• Sec 17(a) (Not specified)

Resolutions

First Resolution Date 26-Sep-2023

Related Documents:

comp25854 26-Sep-2023 Complaint
Complaint
The SEC alleged: "From May 2020 through May 2021, in press releases, earnings calls, interviews, and other statements, Intrusion, through the Former CEO, made materially false and misleading statements regarding: (a) the Former CEO's background and experience; (b) the Company's success in marketing Shield to participants in its beta testing program; and (c) certain Company contracts, or purported contracts, with prospective customers. Intrusion's conduct violated the antifraud, current reporting, and disclosure controls and procedures provisions of the federal securities laws."
LR-25854 26-Sep-2023 Litigation Release
SEC Charges Dallas Area Cybersecurity Company with Fraud
On September 26, 2023, the SEC stated that: "[It] filed a complaint against Intrusion Inc. ("Intrusion") for making false and misleading statements in 2020 and 2021, primarily through its former CEO, regarding the company's purported success in marketing a cybersecurity product, the terms of multiple contracts, and the background and experience of its former CEO. Intrusion has agreed to settle the SEC's charges."
court_doc4_23-cv-00859 05-Oct-2023 Court Docket Document
Final Judgment as to Defendant Intrusion, Inc.
On October 5, 2023, the Court issued a final judgment against Intrusion Inc., stating: "The Securities and Exchange Commission having filed a Complaint and Defendant Intrusion Inc. having entered a general appearance; consented to the Court’s jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."