WACO, Texas, Jan. 29, 2025 (GLOBE NEWSWIRE) -- VoIP-Pal.com 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 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 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: www.voip-pal.com
IR Inquiries: IR@voip-pal.com
IR Contact: Rich Inza, (954) 495-4600
