Los Angeles - (NewMediaWire) - December 31, 2021 - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ipsidy Inc. (“Ipsidy” or “the Company”) (NASDAQ: AUID) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent 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 of being a "pure-play SaaS [software as a service] business" are misleading, as "[n]one of its revenues have been from its SaaS product . . . and 70% are from low tech, legacy businesses." The report claims that the Company’s revenues "aren't from its identity verification application" and that its "REAL businesses are of selling plastic cards in South Africa and leasing bus ticket kiosks in Colombia."
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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The Schall Law Firm
Brian Schall, Esq.