LOS ANGELES–(COMMERCIAL THREAD) –Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ipsidy Inc. (âIpsidyâ or âthe Companyâ) (NASDAQ: AUID) for violating securities laws.
The investigation focuses on whether the Company has made false and / or misleading statements and / or failed to disclose relevant information to investors. Ipsidy is the subject of a research report published by White Diamond Research on December 16, 2021. The report alleges that the company’s claims to be a “pure SaaS [software as a service] business “is deceptive because”[n]one of its income comes from its SaaS product. . . and 70% come from traditional low-tech companies. The report claims that the company’s revenue “does not come from its identity verification app” and that its “real business is selling plastic cards in South Africa and renting bus ticket kiosks in South Africa. Colombia. . ”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by legal counsel. If you choose not to take any action, you can remain an absent member of the group.
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