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.
Featured Article in CEOCFO Magazine
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:
January, 2025
December 2024
November 2024
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.
For further information:Corporate Website: www.voip-palusa.comIR Inquiries: IR@voip-pal.comIR Contact: Rich Inza, (954) 495-4600
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
28 minutes ago
- Business Wire
Redwood Trust Launches Reopening of $50 Million of 7.75% Convertible Senior Notes Due 2027
MILL VALLEY, Calif.--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE: RWT; 'Redwood' or the 'Company') today announced that it plans to offer, subject to market and other conditions, $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the 'Notes') in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the 'Initial Notes') and the 7.75% convertible senior notes due 2027 that the Company issued in October 2024 (the 'Initial Additional Notes' and, together with the Initial Notes, the 'Existing Notes'). Currently, $247,170,000 aggregate principal amount of Existing Notes are outstanding. Redwood intends to use the net proceeds from this offering for general corporate purposes, which may include (i) funding of Redwood's operating business and investment activity, which may include funding its residential and business purpose lending mortgage banking businesses, acquiring mortgage-backed securities for its investment portfolio, and funding strategic acquisitions and investments and/or (ii) the repayment of existing indebtedness, which may include the repurchase or repayment of a portion of the 5.75% exchangeable senior notes due 2025 issued by one of Redwood's subsidiaries. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities referred to in this press release, nor will there be any sale of any such securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Redwood Trust Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on several distinct areas of housing credit where we provide liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors, through our best-in-class securitization platforms, whole-loan distribution activities, joint ventures and our publicly traded shares. We operate through three core residential housing-focused operating platforms — Sequoia, Aspire, and CoreVest — alongside our complementary Redwood Investments portfolio which is primarily composed of assets we source through these platforms. In addition, through RWT Horizons®, our venture investing initiative, we invest in early-stage companies that have a direct nexus to our operating platforms. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. Redwood Trust is internally managed and structured as a real estate investment trust ('REIT') for tax purposes. CAUTIONARY STATEMENT: This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, such as statements related to the placement of Notes and the expected use of the net proceeds. Forward-looking statements involve numerous risks and uncertainties. Redwood's actual results may differ materially from those projected, and Redwood cautions investors not to place undue reliance on the forward-looking statements contained in this release. Forward-looking statements are not historical in nature and can be identified by words such as 'anticipate,' 'estimate,' 'will,' 'should,' 'expect,' 'believe,' 'intend,' 'seek,' 'plan,' and similar expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in Redwood's filings with the Securities and Exchange Commission. Redwood undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CBS News
34 minutes ago
- CBS News
Cracker Barrel loses almost $100 million in value as stock plunges after new logo release
Cracker Barrel shed almost $100 million in market value after its stock plunged Thursday following the release of a new logo. The new design eliminates a longstanding drawing of an overall-clad man leaning against a barrel, in favor of a cleaner logo featuring just the chain's name. Shares of Cracker Barrel fell $4.22, or 7.2%, to $54.80 in Thursday trading, shedding $94 million in market value. The stock had dipped to a low of $50.27 earlier in the day, representing a loss of almost $200 billion in its capitalization. Wall Street's reaction to the logo redesign comes as Cracker Barrel has been working to refresh its image through new menu items and redecorated stores that eschew the 55-year-old chain's old-timey approach in favor of a more modern look. According to the company's website, the man and barrel in the old logo represented "the old country store experience where folks would gather around and share stories." It's unusual for a company's share price to plunge dramatically due to a logo redesign, although marketing missteps can cause investors to question a company' strategy. Cracker Barrel's overhaul has been overseen by CEO Julie Felss Masino, who last year described the chain as "not as relevant as we once were," and announced plans to update its down-home menu. In a statement to CBS News, Cracker Barrel said that the man portrayed in the logo, known as "Uncle Herschel," will remain "front and center in our restaurants and on our menu." "Our values haven't changed, and the heart and soul of Cracker Barrel haven't changed," the company said. The new logo, which will appear on menus and marketing materials, "is now rooted even more closely to the iconic barrel shape and wordmark that started it all," the company said in an Aug. 18 press release. Conservative commentators took issue with the rebrand, with right-wing podcaster Matt Walsh calling it "more generic" on social media. Marketing experts also criticized the company's overhaul. Bolt Health founder Kevin Dahlstrom, who has served as a chief marketing officer at several companies in the financial industry, described Crack Barrel's rebrand as a "fiasco." "The holy grail of marketing is to create a brand that customers give a damn about — and feel some ownership of. It's exceedingly rare and when you have that — as Cracker Barrel did — you NEVER EVER abandon it, you only double down on it," Dahlstrom wrote on social media.
Edmunds
an hour ago
- Edmunds
The 2026 Subaru Outback Is a Lot More Expensive Than Before
Here's a full breakdown of 2026 Outback pricing, all of which include a $1,450 destination charge: 2026 Subaru Outback Premium: $36,445 2026 Subaru Outback Limited: $43,165 2026 Subaru Outback Limited XT: $45,815 2026 Subaru Outback Wilderness: $46,445 2026 Subaru Outback Touring: $46,845 2026 Subaru Outback Touring XT: $49,445 The top-of-the-line Outback Touring XT reaches nearly $50,000, a $3,000 jump over the same trim on the outgoing model. We haven't gotten behind the wheel of the all-new Outback, but there are significant, welcome changes inside the half-wagon-half-SUV while retaining the old model's powertrains. Is all that enough to justify the large increase in price? We'll let you know once we get a chance to drive the new Outback later this year.
