Voip-Pal.Com Announces Plans to Increase Damage Demands in Lawsuits vs Apple, Verizon and AT&T
BELLEVUE, Wash., May 15, 2017 (GLOBE NEWSWIRE) -- Voip-Pal.com, Inc. (“Voip-Pal,” the “Company”) (OTCQB:VPLM) announces their intent to increase the damage claims in its lawsuits against Apple, Verizon and AT&T. Over the past few months the Company has been reevaluating the initial damage calculation claims made in its February 2016, lawsuits against Apple, Inc, in the United States District Court, District of Nevada case number 2:16-CV-00260, Cellco Partnership d/b/a Verizon Wireless and AT&T Corp. in the United States District Court, District of Nevada, case number 2:16-cv-00271. Voip-Pal has determined its initial claim for damages was calculated using a significantly lower royalty monetization model than has been used in actual court awards of recent patent infringement cases.
Voip-Pal remains cautiously conservative with its newly revised calculations, using an amount 25% below actual recent court awards for damages. Upon the lifting of the current stay pending the completion of the instituted Inter Partes Reviews expected later this year, the Company may file an amended pleading to reflect the more accurate damage calculation model.
Utilizing the updated damages award calculation methods, the revised total damages sought by Voip-Pal from Apple would rise from more than two billion dollars ($2,836,710,031), to more than twenty-five billion dollars ($25,642,557,840).
An award in Voip-Pal’s favor may also include additional punitive damages awarded by the court, up to triple damages increasingthe newly revised potential maximum total award to Voip-Pal to over one hundred two billion dollars, ($102,570,231,360).
Applying the updated damage award calculation method to Verizon and AT&T, the current damages sought from Verizon of more than two billion dollars ($2,382,872,100) would increase to over seventeen billion dollars ($17,262,042,011).
The current damages sought from AT&T would increase from more than one billion dollars ($1,804,795,745) to over thirteen billion dollars ($13,540,863,431).
Applying the maximum potential punitive damages, increases the maximum potential award from Verizon to more than sixty-nine billion dollars ($69 billion).
Applying the maximum potential punitive damages, increases the maximum potential award from AT&T to more than fifty-four billion dollars ($54 billion).
The complete monetization analyses and damage calculation methodologies will be posted on www.voip-pal.com.
The Company also reports the filing of five more petitions for Inter Partes Review (IPR) from AT&T and Apple. The deadline for filing an IPR petition by Apple, Verizon and AT&T was May 9, 2017, one year from the date of the completion of service of process to the defendants.
On May 8, 2017, AT&T filed the following three petitions for Inter Partes Review: IPR2017-01382, against Voip-Pal’s Patent No. 8,542,815, IPR2017-01383, against Voip-Pal’s Patent No. 9,179,005, and IPR2017-01384, against Voip-Pal’s Patent No. 9,179,005.
On May 9, 2017, Apple filed the following two petitions for Inter Partes Review: IPR2017-01399, against Voip-Pal’s Patent No. 8,542,815, and IPR2017-01398 against Voip-Pal’s Patent No. 9,179,005.
Voip-Pal CEO Emil Malak stated, “We will continue to vigorously defend these challenges to our technology and protect the interests of our shareholders. Once the stay is lifted we will make a final determination on amending the asserted damages of our lawsuits with Apple, Verizon and AT&T.”
“We are now faced with defending five new IPR’s, three filed by ATT and two filed by Apple, all on the same two patents we have been defending for the past year. We are confident we will prevail based on the merits. We appreciate the patience of our shareholders and we assure them we will persevere to a successful end.”
About Voip-Pal.com Inc.
Voip-Pal.Com Inc. is a publicly traded corporation (OTCQB:VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.
Corporate Website: www.voip-pal.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
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