U.S. District Court for the Northern District of California Rules in Favor of VoIP-Pal
VoIP-Pal.com Inc. (OTCQB: VPLM) received a favorable ruling in its legal case against Twitter, where the U.S. District Court dismissed Twitter's motion for attorney fees following the company's covenant not to sue.
Sentiment and the balance of points
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Rhea-AI Summary
VoIP-Pal.com Inc. (OTCQB: VPLM) received a favorable ruling in its legal case against Twitter, where the U.S. District Court dismissed Twitter's motion for attorney fees following the company's covenant not to sue. This ruling concludes a litigation initiated by Twitter over VoIP-Pal's patent, U.S. Patent No. 10,218,606. CEO Emil Malak expressed satisfaction with the ruling, stating that it marks the end of a two-year legal battle.
Positive
- Court denied Twitter's motion for attorney fees, favoring VoIP-Pal.
- Legal case dismissal allows VoIP-Pal to focus on monetizing its patents.
Negative
- None.
Details
News Market Reaction – VPLM
The recorded move for VPLM in the trading session of this news was -2.00%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
The Court denied Twitter’s motion for attorney’s fees.
WACO, Texas, July 13, 2022 (GLOBE NEWSWIRE) -- VoIP-Pal.com Inc. (“VoIP-Pal”, “Company”) (OTCQB: VPLM) is pleased to announce the Company has received a favorable ruling in Case 3:20-cv-02397-JD Twitter Inc v. VoIP-Pal.Com Inc., filed in U.S. District Court for the Northern District of California. Twitter originally sought a declaratory judgement of noninfringement of VoIP-Pal’s patent, U.S. Patent No. 10,218,606 (the ’606 patent). VoIP-Pal granted Twitter a covenant not to sue and the Court granted VoIP-Pal’s motion to dismiss the case on that basis. Following the dismissal however, Twitter brought a motion against VoIP-Pal for attorney fees. In a recent order dated July 1, 2022, the Court sided with VoIP-Pal and denied Twitter’s motion for fees.
Emil Malak, CEO of VoIP-Pal stated, “We are obviously pleased with the Judge’s ruling in this case, and we are also glad to have concluded this litigation that was initiated by Twitter more than two years ago. Patience is a virtue”
About VoIP-Pal.com Inc.
VoIP-Pal.Com, Inc. (“VoIP-Pal”) is a publicly traded corporation (OTCQB: VPLM) headquartered in Waco, Texas. 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-pal.com |
| IR inquiries: | IR@voip-pal.com |
| IR Contact: | Rich Inza (954) 495-4600 |
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