HDS International Retains Counsel to Seek Recovery for Shareholders
January 11 2016 - 2:44PM
InvestorsHub NewsWire
HDS International Retains Counsel to Seek Recovery for
Shareholders
ST. LOUIS, MO -- January 11, 2016 -- InvestorsHub NewsWire -- HDS
International Corp. and CMG Holdings Group, Inc. (OTC/HDSI &
OTC/CMGO): CMG Holdings Group, Inc.’s majority-owned
subsidiary, HDS International Corp., and SirenGPS, Inc. (“HDSI”,
“SirenGPS” and together the “Companies”) have retained the services
of the law firm Elias, Gutzler and Spicer, LLC (“EGS”) to
investigate potential deceptive and manipulative practices of
various third parties whose primary business is to provide
financing to micro-cap public companies. The Companies plan
to work with EGS to seek recovery for misrepresentation related to
promises and signed agreements made in early 2015 to provide
millions of dollars of funding to HDSI, which at the time had a
license to the SirenGPS platform and later acquired the assets and
operations of SirenGPS outright.
Paul Rauner, current SirenGPS Chief Executive Officer and former
HDSI Chief Executive Officer explained: “While we were working to
develop our business, we believe certain individuals and investment
groups were making false promises and using our good name and
business developments to profit at the expense of shareholders and
the Company. The attorneys at Elias, Gutzler and Spicer have
great experience prosecuting complicated financial fraud cases,
having won billion dollar plus judgments from corporate
conglomerates such as JP Morgan Chase and DuPont. I have no
doubt that they will get the best result possible for HDSI,
SirenGPS and their shareholders.”
The retention of EGS is an important milestone for HDSI, to the
extent it could potentially allow for recovery of damages for past
shareholders of SirenGPS and for current and future shareholders of
HDSI, whose plan of merger and financing with Good Gaming is on
track to close within the next few weeks. The owners of Good
Gaming, now the control shareholders of HDSI, believe it is
critical to reset the bar for investors so that they can fully
understand the adverse impact past failed financing measures had on
the former business. EGS intends to spend the next month
reviewing all communications, term sheets, trading volumes, notices
of conversion made by the investor groups, and other data in order
to determine a fair and appropriate amount of damages to include in
any potential complaints to be filed in state and/or federal court
and potentially with regulators. Shareholders of HDSI and
other parties that believe they have a similar set of claims
against these and other investor groups interested in further
information should contact HDSI investor relations and/or EGS
immediately.
About Elias Gutzler Spicer LLC
The Elias, Gutzler and Spicer law firm represents plaintiffs in
litigation matters. Partners at the firm have been responsible for
significant recoveries including a $13B recovery against J.P.
Morgan and a jury verdict for $1B against DuPont.
Elias Gutzler Spicer LLC
Richard Elias
1924 Chouteau Avenue, Suite W
St. Louis, Missouri 63103-3004
(314) 833-6645
About HDS International Corp.
HDS International Corp. (OTC: HDSI), a technology development
company, is in a definitive agreement to combine with CMG Holdings
Group’s (OTC: CMGO) majority-owned subsidiary Good Gaming, Inc.
(“Good Gaming” –
www.good-gaming.com). Good Gaming
is the world’s leading cash tournament gaming platform targeting
the over 205 million eSports players and participants globally that
want to compete at the high school or college level. Good
Gaming recently confirmed its alliance with one of the world’s
leading games publishers and intends to launch a series of eSports
cash tournaments in 2016.
Forward-Looking Statements
Statements not historical in nature, are intended, and are hereby
identified as, "forward-looking statements". Forward-looking
statements may be identified by words including "anticipate,"
"believe," "intends," "estimates," "expect," and similar
expressions. The Company cautions readers that forward-looking
statements including, without limitation, those relating to future
business prospects are subject to risks and uncertainties that
could cause actual results to differ materially from projections,
estimates or aspirations, due to factors such as those relating to
economic, governmental, technological, and any risks and factors
identified from time to time in the Company's reports filed with
the SEC.
HDSI CONTACT INFORMATION
HDS International Corp.
Investor Relations
(708) 400-9050
corporate@good-gaming.com
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