Cases
Global Digital Solutions, Inc. (OTC BB : GDSI)
Securities Class Action
Overview
Overview
- Date:
- 8/29/2016
- Company Name:
- Global Digital Solutions, Inc.
- Stock Symbol:
- GDSI
- Class Period:
- FROM 10/8/2013 TO 8/12/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of New Jersey
NEW YORK, August 29, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the New Jersey District Court on behalf of all persons or entities who acquired Global Digital Solutions, Inc. (OTC BB: GDSI) securities between October 8, 2013 to August 12, 2016 (the “Class Period”).
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Airtronic USA, Inc.’s original equipment manufacturer supplier agreement that Global Digital disclosed in its press releases in October, 2013 did not exist; (2) Global Digital failed to remove these misleading statements from its website despite repeated requests to do so from the CEO of Airtronic; (3) Global Digital lacked a reasonable basis for its revenue projection for 2014; (4) Global Digital had no credible financing in place to acquire any company; (5) Global Digital received various communications indicating Remington Outdoor Company, Inc. had no interest in Global Digital’s unsolicited acquisition offer; (6) Remington had already rejected Global Digital’s offer on several occasions; and (7) as a result, defendants’ statements about Global Digital’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you acquired Global Digital Solutions, Inc. securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Airtronic USA, Inc.’s original equipment manufacturer supplier agreement that Global Digital disclosed in its press releases in October, 2013 did not exist; (2) Global Digital failed to remove these misleading statements from its website despite repeated requests to do so from the CEO of Airtronic; (3) Global Digital lacked a reasonable basis for its revenue projection for 2014; (4) Global Digital had no credible financing in place to acquire any company; (5) Global Digital received various communications indicating Remington Outdoor Company, Inc. had no interest in Global Digital’s unsolicited acquisition offer; (6) Remington had already rejected Global Digital’s offer on several occasions; and (7) as a result, defendants’ statements about Global Digital’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you acquired Global Digital Solutions, Inc. securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.