Judge Rules in Favor of Voip-Pal in the Case Against Richard Kipping and Locksmith Financial Corporation Inc. Regarding Over 95 Million Frozen Shares
VoIP-Pal.com Inc. (OTCQB: VPLM) secured a significant legal victory as the District Court of Clark County, Nevada, ruled in its favor against Locksmith Financial Corporation. The court dismissed all claims made by Richard Kipping, who sought to recover 95,832,000 shares of VoIP-Pal stock that were frozen by the Company in 2014 due to allegations against him. The ruling emphasized Kipping's failure to include the shares in a previous lawsuit, thus preventing any future claims. CEO Emil Malak expressed satisfaction with the outcome and indicated ongoing consultations with the legal team for future actions.
- Legal victory against Locksmith Financial Corporation strengthens VoIP-Pal's position.
- Court ruling dismisses claims for 95,832,000 shares, securing the company's stock.
- CEO's statement reflects strong leadership and confidence in future legal strategies.
- None.
WACO, Texas, Jan. 25, 2022 (GLOBE NEWSWIRE) -- VoIP-Pal.com Inc. (“VoIP-Pal”, “Company”) (OTCQB: VPLM) is pleased to announce the District Court in Clark County Nevada has entered a judgment in favor of Voip-Pal.Com Inc., and New Horizon Transfer Inc., on “each and every one of Plaintiff’s claims” in Case No. A-20-807745-C, vs. Locksmith Financial Corporation, a company controlled by Richard Kipping. The case was another unsuccessful attempt by Mr. Kipping to recover the 95,832,000 shares of Voip-Pal stock which were frozen by the Company in 2014 amid various allegations against Kipping. The District Court ruled that Mr. Kipping’s failure to request an award of the 95,832,000 shares of Voip-Pal stock in Mr. Kipping’s previous lawsuit against Voip-Pal, prevented him from requesting the shares thereafter.
The Court’s decision has been posted on the Company’s website www.voip-pal.com and can be accessed here.
Voip-Pal CEO, Emil Malak stated, “We are very pleased with this outcome. It has been a long battle, but once again the Court has sided with our Company. We are currently in consultation with our legal team to determine our next move.”
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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