VoIP-Pal Announces Objective for Financial Settlement by February 28, 2025
WACO, Texas, Jan. 27, 2025 (GLOBE NEWSWIRE) -- VoIP-Pal.com Inc. ('VoIP-Pal,' 'Company') (OTCQB: VPLM) is pleased to provide shareholders with an update on the Company's ongoing antitrust and Class Action litigation against major telecommunications providers.
Motion for Extension of Time Granted
VoIP-Pal previously filed a motion to extend the deadline for serving process in its antitrust and class action lawsuits, Case Nos. 1:24-cv-03051-RDM and 1:24-cv-03054-RDM. The United States District Court for the District of Columbia has granted the motion, providing the Company with a 90-day extension to complete the process, with the new deadline now set for April 23, 2025. This extension provides additional time to complete procedural requirements and allows for the possibility of exploring resolutions while ensuring all claims are handled efficiently.
Targeting February 28, 2025, as a Goal
VoIP-Pal aims to explore opportunities for meaningful settlement discussions to achieve its primary objective: a fair financial resolution. The Company is striving to make progress by February 28, 2025, recognizing this as a goal subject to the inherent complexities of litigation.
'We are working toward meaningful progress by February 28, 2025, as our main objective,' said Emil Malak, CEO of VoIP-Pal. 'However, I want to caution shareholders against drawing any conclusions at this stage. While we are hopeful, the eventual outcome remains uncertain due to the complexities of litigation. If significant progress is not made by the target date, we will evaluate procedural options, including informing the court, serving the defendants, and potentially pursuing bifurcation to streamline the litigation process.'
Bifurcation, a legal process that separates specific issues for individual resolution, is one potential strategy to streamline complex litigation and focus on key matters if progress stalls.
'Recently, a longstanding shareholder in his 90s expressed a heartfelt concern, asking, 'Will I live to see compensation on my investment?' This poignant question underscores the trust our shareholders have placed in us. 'We remain steadfast in our commitment to honoring that trust by pursuing a fair resolution to the antitrust complaint through all appropriate means,' added Mr. Malak.
A recent article and interview with CEO Emil Malak has been published in CEOCFO Magazine, highlighting VoIP-Pal's business approach and ongoing efforts related to its litigation. This is the third feature by CEOCFO Magazine since the company began its antitrust litigation. Links to all three articles are available below:
About VoIP-Pal.com Inc.
VoIP-Pal.com, Inc. ('VoIP-Pal') is a publicly traded corporation (OTCQB: VPLM) headquartered in Waco, TX. The company owns a portfolio of patents related to Voice-over-Internet Protocol ('VoIP') technology that it is currently seeking to monetize.
Forward-Looking Statements
This press release contains forward-looking statements as defined under securities laws. These statements are based on management's beliefs and reflect the Company's expectations regarding future outcomes. However, litigation outcomes are inherently uncertain, and there is no assurance that settlement discussions will occur or result in a resolution, nor that litigation will yield favorable outcomes. The timing and financial implications of litigation remain unpredictable.
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