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NEW YORK, Aug. 24, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Global Digital Solutions, Inc. (OTCMKTS:GDSI) between October 8, 2013 and August 12, 2016.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of New Jersey. To get more information go to:
http://www.zlk.com/pslra/global-digital-solutions-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material information, including that: (1) Airtronic USA, Inc.’s original equipment manufacturer supplier agreement that GDSI disclosed in its press releases in October 2013 did not exist; (2) GDSI failed to remove these misleading statements from its website despite repeated requests from the CEO of Airtronic; (3) GDSI had no credible financing in place to acquire a company; (4) GDSI received communications indicating Remington Outdoor Company, Inc. had no interest in GDSI’s unsolicited acquisition offer; and (5) Remington had already rejected GDSI’s offer on several occasions.
On August 12, 2016, the Security and Exchange Commission charged GDSI’S former chairman and CEO Richard J. Sullivan and former CFO David A. Loppert with defrauding investors by issuing false and misleading press releases.
If you suffered a loss in GDSI you have until October 24, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
