WACO, Texas, Oct. 29, 2024 (GLOBE NEWSWIRE) -- VoIP-Pal.com, Inc. (OTCQB: VPLM) announced today the strategic withdrawal and refiling of its antitrust lawsuit, along with a parallel class action complaint originally filed on August 17, 2024. These revised filings bolster the legal foundation of the initial complaints and underscore VoIP-Pal's commitment to challenging alleged anti-competitive practices in the telecommunications industry. The new complaints will be posted on the Company website: www.voip-palusa.com.
The refiled complaints, submitted on October 25, 2024, incorporate adjustments aimed at addressing newly identified factors and strengthening the original legal arguments. The new complaints maintain the core allegations of the original lawsuits, emphasizing alleged violations of key provisions in U.S. antitrust law: specifically, Sections 1 and 2 of the Sherman Act, which address unlawful restraints of trade and monopolization; Sections 3, 4, and 7 of the Clayton Act, covering exclusive dealings, remedies, and anti-competitive mergers; and Section 251 of the Telecommunications Act of 1996, which mandates fair competition practices in telecommunications.
Emil Malak, CEO of VoIP-Pal, commented, “Our decision to pursue antitrust litigation was a carefully considered, strategic move that we strongly believe in. This action strengthens our ability to address entrenched monopolistic practices and anti-competitive behaviors that have restricted consumer choice and placed VoIP-Pal at a competitive disadvantage. We are confident that this focused litigation will better position us to achieve an equitable resolution and address long-standing industry practices that are detrimental to fair competition. We appreciate our shareholders for their patience and trust in our mission, and we are optimistic that our persistence will yield positive results for VoIP-Pal and our valued shareholders.”
VoIP-Pal will continue to post regular updates on the company’s website, offering in-depth insights into the legal process, with periodic letters from the CEO to shareholders to ensure transparency and ongoing information regarding the progress of these cases.
Additionally, an article providing deeper insights into the refiled complaints was published on October 28, 2024, in CEOCFO Magazine. The article offers further context on the strategic adjustments and allegations in the cases and can be accessed at www.ceocfointerviews.com/voippalantitrust1024.html.
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 relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Any forecast of future financial performance is a “forward looking statement” under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment. While the Company believes in the circumstances that legal action is needed to monetize its patents, patent litigation involves various risks and uncertainties that could affect its ability to monetize the patents. We recognize that it is impossible to predict the specific outcomes of litigation.
Corporate Website: www.voip-palusa.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
