NEW YORK, Oct. 11, 2016 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Global Digital Solutions, Inc. securities (OTC:GDSI) from October 8, 2013 through August 12, 2016, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Global Digital investors under the federal securities laws.
To join the Global Digital class action, go to the website at http://www.rosenlegal.com/cases-937.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 24, 2016. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-937.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] [email protected] [email protected] www.rosenlegal.com