APPLIED
DIGITAL SOLUTIONS ISSUES A STATEMENT REGARDING THE RECENTLY FILED
SHAREHOLDER LAWSUITS
Applied Digital Solutions,
Inc., an advanced technology development company, announced today
that two virtually identical securities class action lawsuits have
recently been filed in the United States District Court for the Southern
District of Florida against Applied Digital Solutions, Inc. and Richard
Sullivan, its Chief Executive Officer.
Applied Digital expects
that, as is common in these types of actions, other similar complaints
will likely be filed and that all the complaints will eventually be
consolidated into one action. Applied Digital believes the pending
actions are without merit; it intends to vigorously defend against
them; and it stands committed to remaining focused on its business
plan.
About Applied
Digital Solutions
Applied Digital Solutions (Nasdaq: ADSX) is an advanced technology
development company that focuses on a range of early warning alert,
miniaturized power sources and security monitoring systems combined
with the comprehensive data management services required to support
them. Through its Advanced Technology Group, the company specializes
in security-related data collection, value-added data intelligence
and complex data delivery systems for a wide variety of end users
including commercial operations, government agencies and consumers.
For more information, visit the company's website at http://www.adsx.com.
Statements about the Company’s future expectations, including future
revenues and earnings, and all other statements in this press release
other than historical facts are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and as that term is defined
in the Private Litigation Reform Act of 1995.
Such forward-looking statements involve risks and uncertainties
and are subject to change at any time, and the Company’s actual results
could differ materially from expected results. The Company undertakes
no obligation to update forward-looking statements to reflect subsequently
occurring events or circumstances.
