HPIL HOLDING (OTC: HPIL) SETTLES ANOTHER LAWSUIT
VANCOUVER, BC, May 24, 2022 /PRNewswire/ -- HPIL Holding (OTC: HPIL) announces that as of May 20, 2022 the Company reached an amicable settlement with POWER UP LENDING GROUP., LTD, ASHER ENTERPRISES, INC, GENEVA ROTH REMARK HOLDINGS, INC, HOPE CAPITAL, INC, KBM WORLDWIDE, INC, REDSTART HOLDINGS CORP, SIXTH STREET LENDING, LLC, VIS VIRES GROUP, INC, CURT KRAMER and SETH KRAMER, Pursuant to the Settlement, the Complaint filed in the United States District Court Eastern District of New York, Case Number 2:22-cv-02287 will be voluntarily dismissed.
The settlement was both a cash settlement to the Company along with the cancellation of any outstanding warrants that were held by the defendants.
"We feel the settlement is in the best interest of HPIL Holding and its Shareholders and will allow the company to focus on other possible settlements and its core business of moving the Company forward," stated Stephen Brown, CEO of HPIL.
About HPIL Holing: HPIL is a worldwide diversified company developing projects with cutting edge technology that strongly believes in its slogan: WHERE THE HUMAN ELEMENT MEETS THE FUTURISTIC MIND.
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.
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SOURCE HPIL Holding