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Global Digital Solutions Inc. (GDSI)

OTC:GDSI

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Global Digital Solutions Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Global Digital Solutions Inc. (“Global Digital” or the “Company”) (OTC:GDSI) of the October 24, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Global Digital securities between October 8, 2013 and August 12, 2016 (the “Class Period”).  The case, HULL v. GLOBAL DIGITAL SOLUTIONS, INC. et al, No. 3:16-cv-05153 was filed on August 24, 2016, and has been assigned to Judge Freda Lisenbaum Wolfson.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) Airtronic USA's (“Airtronic’s”) original equipment manufacturer supplier agreement disclosed in the Company’s press releases in October 2013 did not exist; (2) Global Digital failed to remove these misleading statements from its website despite repeated requests from Airtronic’s CEO; (3) Global Digital lacked a reasonable basis for its revenue projection for 2014; (4) Global Digital did not have credible financing in place to acquire any company; (5) Global Digital received numerous communications indicating Remington Outdoor Company, Inc. (“Remington”) 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, Global Digital's statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

Take Action

If you invested in Global Digital stock or options between October 8, 2013 and August 12, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Global Digital’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Global Digital Solutions Inc. (GDSI)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 09/27/2016

Class Period:

  • 10/08/2013 - 08/12/2016

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.