Robbins Umeda LLP Announces an Investigation
of GTSI Corp.
February 15, 2011 01:29 PM Eastern Time
SAN DIEGO--(EON: Enhanced Online News)--Robbins Umeda LLP, a shareholder rights litigation firm, has
commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain
officers and directors at GTSI Corp. (NASDAQ GM: GTSI). GTSI engages in selling information technology
products and solutions to departments and agencies in the U.S. federal government, state and local governments,
and prime contractors. The company was founded in 1983 and is headquartered in Herndon, Virginia.
Robbins Umeda LLP's investigation concerns whether the officers and directors of GTSI issued materially false and
misleading statements regarding GTSI's business, operations, and prospects. Specifically, our investigation concerns
GTSI's alleged use of smaller companies to obtain government contracts that ordinarily would not be available to it
due to its size.
On October 1, 2010, GTSI announced that it received notice from the U.S. Small Business Administration ("SBA")
that it was temporarily suspended from any future contract awards from the federal government and from directly or
indirectly receiving the benefits of federal assistance programs. The Washington Post reported that the suspension
concerned allegations that GTSI was an active participant in a scheme that resulted in contracts set-aside for small
businesses being awarded to ineligible contractors. On October 4, 2010, when the market reopened, upon news of
this announcement, GTSI's stock price dropped from $7.25 per share to $4.35. Furthermore, on October 19,
2010, GTSI announced that it reached an agreement with the SBA to lift the federal contract suspension. Under the
terms of the agreement, GTSI agreed to immediately cease working with small businesses serving as prime
contractors. In addition, the U.S. Attorney's Office for the Eastern District of Virginia is currently reviewing GTSI's
conduct related to the SBA suspension.
If you purchased GTSI common stock between January 1, 2007 and October 1, 2010 and would like more
information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or
by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action
lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top
multinational corporate law firms, and career shareholder rights attorneys. For more information, please go to
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/gtsi-corp/
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003