Global Digital Solutions, Inc.
777 South Flagler Dr., Suite 800 West Tower
West Palm Beach, FL 33401
Global Digital Solutions Inc. Announces Settlement Agreement with Creditor; Also Announces Dismissal of Hull Case
INCLINE VILLAGE, Nev., Dec. 27, 2017 (GLOBE NEWSWIRE) -
The Company also is reporting that the class action lawsuit known as Hull vs. Global Digital Solutions, Inc. and certain of its officers and directors has been dismissed as of approximately December 19th, 2017.
William J. Delgado, GDSI's CEO, commented, "I am very happy to report this news. Although we had reached a tentative agreement with Power Up around August 30, 2017, we were unable until now to finalize this agreement. This is a full release of not only GDSI, but also our subsidiary, North American Custom Specialty Vehicles (NACSV). In addition, I am also very happy to report the granting of the Motion for Dismissal coming from the court in New Jersey concerning the class action against the Company. Our legal team has spent a substantial amount of time and money researching and defending this case. I am very pleased with the outcome. I would also like to report that we are continuing to work on the 12/31/2015 Form 10K. These are important steps in getting the Company competitive again."
About Global Digital Solutions, Inc.
Global Digital Solutions is positioning itself as a leader in providing comprehensive security and technology solutions. On June 16, 2014, GDSI completed its acquisition of North American Custom Specialty Vehicles (NACSV), a leading builder of mobile command/communications and specialty vehicles for emergency management, first responders, national security, and law enforcement operations. For more information about GDSI, visit http://www.gdsi.co.
Forward Looking Statements
This press release contains "forward-