Core Viewpoint - Gorilla Technology Group Inc. has filed a lawsuit against Sigma Global Fund and Bradbury Private Investments, alleging stock manipulation that harmed shareholders and violated legal obligations [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Sigma and Bradbury engaged in a scheme to artificially depress Gorilla's stock price, allowing them to acquire additional shares at minimal cost [1]. - The company asserts that these actions were designed to exploit Contingent Value Rights (CVRs) and extract unearned value, particularly after a significant stock decline in December 2022 [2][3]. - An economic analysis firm found no publicly available information to explain the stock's decline, which triggered CVR distributions to Sigma and Bradbury [2][3]. Group 2: Timeline of Events - October 2021: Sigma and Bradbury were introduced to Gorilla's management [3]. - February 2022: Sigma and Bradbury committed to invest up to $50 million upon the merger's closing [3]. - March 2022: Sigma demanded the implementation of a CVR structure [3]. - December 2022: Gorilla's stock experienced significant declines, leading to CVR distributions [3]. - April 2023: Sigma proposed to take over Gorilla by removing three directors [3]. - Summer 2023: An investigation found no public information explaining the stock's abnormal decline [3]. Group 3: Company Commitment - The company emphasizes its commitment to transparency and accountability, stating that the lawsuit is a necessary step to protect shareholder value [2][4]. - Gorilla has made the full complaint public and will provide updates as the litigation progresses [4]. - The company does not intend to distribute shares underlying CVRs held by Sigma, Bradbury, or their affiliates [5][6]. Group 4: Company Overview - Gorilla Technology Group Inc. is headquartered in London and specializes in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology [7]. - The company offers solutions across various sectors, including Government, Manufacturing, Telecom, Retail, Transportation, Healthcare, and Education, utilizing AI and Deep Learning technologies [7][8]. - Gorilla focuses on enhancing urban operations, security, and resilience through AI-driven technologies [8].

Core Insights - Gorilla Technology Group Inc. has appointed Satish Venkatesan as Chief Solutions Strategist for the Americas, effective April 14, 2025, to enhance its innovation strategy and partnerships across the region [2][4][5] Company Strategy - The appointment of Venkatesan signifies Gorilla's strategic focus on scaling AI-powered urban systems and public safety initiatives throughout the Americas [5][7] - Gorilla is committed to its capital allocation priorities, including a share buyback program, having repurchased over $4.5 million of shares to date from an authorized total of $10 million [9] Leadership and Expertise - Venkatesan brings nearly 30 years of experience in product engineering and emerging technologies, having previously held senior roles at Cognizant Technology Solutions, where he managed a $2 billion financial services portfolio [6][5] - His expertise includes platform modernization, deep tech strategy, and Generative AI adoption, which will be instrumental in driving innovation at Gorilla [6][5] Market Position and Vision - Gorilla aims to redefine smart cities and public safety through transformative partnerships, with a focus on the O.N.E. Amazon initiative [8] - The company emphasizes the importance of public-private collaboration in advancing innovation and technology investment [7] Technology and Solutions - Gorilla Technology specializes in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, providing solutions across various sectors including government, healthcare, and transportation [10][11] - The company leverages AI and deep learning technologies to enhance urban operations, security, and resilience, ultimately improving the quality of life for residents [11]