We Give Shareholders a Voice
Levi & Korsinsky announces it the commencement of a class action lawsuit in the USDC for the District of New Jersey on behalf of Global Digital Solutions, Inc. (OTC MKTS: GDSI) shareholders who purchased shares between October 8, 2013 and August 12, 2016.
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 Global Digital 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.
To receive more information, please fill out the form.