VoIP-Pal Announces Filing of Amended Complaint in Antitrust and RICO Lawsuit
Rhea-AI Summary
VoIP-Pal.com Inc. (OTCQB: VPLM) has filed an amended complaint in its antitrust and RICO lawsuit against Verizon, AT&T, T-Mobile, along with several of their directors and management team members. The filing, submitted to the United States District Court for the District of Columbia, expands on the original complaint from October 2024. The lawsuit alleges antitrust violations, breaches of federal law, and racketeering activities, including claims of tying arrangements, exclusionary practices, monopolistic control, fraudulent misrepresentation, and systemic market exclusion. CEO Emil Malak emphasized this legal action aims to address harm to competition and innovation in the telecommunications industry, while pursuing justice through both ongoing patent litigation in Waco, Texas, and this expanded legal approach.
Positive
- Company taking decisive legal action against major telecom companies to protect its intellectual property and market position
- Expanded legal strategy incorporating both antitrust and RICO claims potentially increases chances of successful litigation
Negative
- Ongoing legal battles indicate significant challenges in monetizing company's intellectual property
- Legal proceedings against major corporations could be lengthy and costly
- Company faces powerful opponents with substantial legal and financial resources
News Market Reaction 1 Alert
On the day this news was published, VPLM gained 10.67%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WACO, Texas, Dec. 19, 2024 (GLOBE NEWSWIRE) -- VoIP-Pal.com Inc. (OTCQB: VPLM) today announced the filing of an amended complaint to the original complaint filed in October 2024, in Civil Action No. 1:21-cv-03051-RDM, currently pending in the United States District Court for the District of Columbia. This latest filing represents a significant escalation in the company’s legal efforts to address alleged antitrust violations, breaches of federal law, and racketeering activities that VoIP-Pal believes have caused harm to the company.
The amended complaint names Verizon, AT&T, T-Mobile, along with several of their directors and members of their management teams, as defendants. "Our amended complaint builds on our commitment to seeking justice for the harm VoIP-Pal has endured due to alleged antitrust violations and other unlawful practices," said Emil Malak, CEO of VoIP-Pal. "By incorporating RICO claims, we are addressing not just the alleged monopolistic and exclusionary conduct we believe the defendants engaged in, but it also alleges systemic violations and coordinated actions that have targeted our company."
VoIP-Pal CEO Emil Malak reassured shareholders that the strategic focus on antitrust and RICO claims is the most efficient path to address the harm caused by the defendants. “While patent litigation remains ongoing in Waco, Texas, we believe this approach offers the quickest and most effective route to justice,” Malak stated. “Our goal is to hold Verizon, AT&T, T-Mobile, their directors, and key management accountable through the judicial process, restore fair competition in the mobile telephone communications industry, and drive shareholder value. We are working diligently to ensure that the defendants are served soon, with the goal of doing so before the end of the year.”
Malak highlighted the importance of the filing as a step toward achieving accountability. "This legal action is not just about VoIP-Pal; it’s about holding powerful corporations accountable for practices that harm innovation, competition, and fairness in the telecommunications industry. We are confident that this expanded approach will demonstrate the strength of our case."
The amended complaint outlines detailed allegations, including:
- Antitrust Violations: Claims of tying arrangements, exclusionary practices, and monopolistic control that have suppressed VoIP-Pal’s ability to compete.
- RICO Claims: Allegations of coordinated racketeering activities, including fraudulent misrepresentation, deceptive practices, and systemic exclusion of VoIP-Pal from the market.
- Harm to Consumers: The impact of these actions on market competition and millions of smartphone users across the United States.
"Filing this amended complaint marks a pivotal moment in our pursuit of justice," Malak added. "It reflects our commitment to protecting our shareholders, upholding the rule of law, and ensuring a level playing field in the telecommunications sector."
Additionally, a new article and interview with CEO Emil Malak has been published on CEOCFO Magazine, providing additional insights into VoIP-Pal's strategy. The article can be accessed here: https://www.ceocfointerviews.com/voippalantitrust121824.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 related to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Forward-Looking Statements
Any forecast of future financial performance is a “forward-looking statement” under securities laws. Such statements are included to allow potential investors to understand management’s beliefs and opinions with respect to the future, but patent litigation involves various risks and uncertainties that could affect the company’s ability to monetize its patents. It is impossible to predict specific outcomes of litigation.
Corporate Website: www.voip-palusa.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
FAQ
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