Global Digital Solutions Inc (GDSI)

[Coreton]

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Global Digital Solutions, Inc. (OTC: GDSI), a company that is positioning itself as a leader in Transportation Technology Solutions, has announced that the Eleventh Circuit Court of Appeals has affirmed the lower court’s ruling awarding damages of approximately $195 million from Grupo Rontan Electro Metalurgica, S.A., Joao Alberto Bolzan and Jose Carlos Bolzan.

The decision affirms the award to Global Digital Solutions, Inc. for Specific Performance (Rights to Rontan Metalurgica) and incidental damages of $192,448,000. Interest and legal fees have increased the initial award to north of $195 million.

William Delgado, CEO and Chairman of GDSI, added, “We are very pleased that the Eleventh Circuit validated our position regarding these damages. Our United States legal team of Boies, Schiller, Flexner and our Brazilian legal team have done an outstanding job on this case. In addition, we have engaged one of the premier corporate investigative and intelligence firms to help identify assets to support our damages award. They have identified assets significantly greater than our damages award and the company intends to begin collection action on these assets immediately.”