Latest news with #VoIP-Pal.comInc
Yahoo
13-05-2025
- Business
- Yahoo
VoIP-Pal Affirms Court Acceptance of Second Amended Complaint and Service upon Defendants in Federal Antitrust and RICO Lawsuit
WACO, Texas, May 13, 2025 (GLOBE NEWSWIRE) -- Inc. (OTCQB: VPLM) announced that the United States District Court for the District of Columbia has granted its motion for leave to enter its Second Amended Complaint as the operative pleading in its ongoing federal antitrust and RICO action against AT&T, Verizon, and T-Mobile. Additionally, VoIP-Pal confirms they have served all Defendants through their legal counsel by the previously extended court deadline of April 23, 2025. Following the effecting timely service and satisfactorily responding to the Court's procedural inquiry, the Honorable Judge Randolph D. Moss issued an order on May 7, 2025, vacating the prior show-cause deadline and discharging the associated order. Defendants now have until June 22, 2025, to respond to VoIP-Pal's operative complaint, which alleges violations of the RICO statutes, the Sherman and Clayton Antitrust Acts, and Section 251 of the Telecommunications Act of 1996, based on alleged coordinated conduct among Defendants aimed at excluding VoIP-Pal and other potential competitors from the mobile voice-routing market. If RICO violations are proven, liability could extend to all named Defendants involved in the alleged enterprise. VoIP-Pal will continue to provide updates as the case proceeds through the next phase of litigation. About 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 actively seeking to monetize. Forward-Looking StatementsThis press release contains forward-looking statements as defined under securities laws. These statements reflect management's current expectations and are inherently uncertain. Litigation outcomes and settlement discussions are unpredictable, and there is no assurance of favorable resolution. For Further InformationCorporate Website: Inquiries: IR@ Contact: Rich Inza, (954) 495-4600
Yahoo
29-01-2025
- Business
- Yahoo
VoIP-Pal Files Amended Complaint in Class Action Lawsuit, Expands Claims to Include RICO and Add Deutsche Telekom as a Defendant
Amended Complaint Proposes Subscriber Restitution Fund and Structural Reforms WACO, Texas, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Inc. ('VoIP-Pal,' 'Company') (OTCQB: VPLM) has filed an amended complaint in its ongoing Class Action lawsuit (CIVIL ACTION NO. 1:24-cv-03054-RDM) against major telecommunications providers, including AT&T, Verizon, and T-Mobile. The amended filing expands the scope of claims and includes additional defendants, highlighting significant new allegations and proposed remedies. Amended Complaint Highlights • RICO Claims Added The amended complaint introduces claims under the Racketeer Influenced and Corrupt Organizations Act (RICO), alleging practices that the Company believes has harmed consumers and competition. These claims highlight concerns about market behavior that could potentially impact millions of American smartphone subscribers. • Deutsche Telekom Added as a Defendant Deutsche Telekom, the majority owner (51.2%) of T-Mobile US, has been added as a defendant. The amended complaint raises concerns regarding its potential involvement in practices that may limit market competition and negatively affect consumers. • Proposed Subscriber Restitution Fund The amended complaint outlines a proposed framework for subscriber restitution aimed at addressing the alleged harm. Preliminary details suggest: Potentially eligible subscribers served by AT&T, Verizon, and T-Mobile could receive a $12 monthly discount on their phone bills for up to five years. This framework reflects an estimated total value of $268.56 billion and is subject to further legal review and approval. VoIP-Pal is currently one of the lead plaintiffs in this litigation and is actively expanding the group of lead plaintiffs to include additional representation. Interviews with prospective lead plaintiffs are ongoing, with the goal of securing over nine total lead plaintiffs to strengthen the case. Emil Malak, Chairman and CEO of VoIP-Pal, said, "We are optimistic about continuing discussions with the defendants with the objective of achieving significant progress, and our hope is to begin negotiations soon. We are prepared to take the necessary steps if progress is not made by February 28, 2025. We appreciate the continued trust and support of our valued shareholders as we work toward delivering meaningful outcomes for consumers, promoting fair competition, and advancing innovation in the marketplace." About Inc. 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 actively seeking to monetize. Forward-Looking Statements This press release contains forward-looking statements as defined under securities laws. These statements reflect management's current expectations and are inherently uncertain. Litigation outcomes and settlement discussions are unpredictable, and there is no assurance of favorable resolution. For Further Information Corporate Website: Inquiries: IR@ Contact: Rich Inza, (954) 495-4600Sign in to access your portfolio
Associated Press
27-01-2025
- Business
- Associated Press
VoIP-Pal Announces Objective for Financial Settlement by February 28, 2025
WACO, Texas, Jan. 27, 2025 (GLOBE NEWSWIRE) -- 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 Inc. 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:
