NextPlat Corp Settles Lawsuit with Former Chief Financial Officer

On October 15, 2024, NextPlat Corp (OTCMKTS:TRKK) announced the settlement of a lawsuit with its former Chief Financial Officer, Mr. Thomas Seifert. As per the terms of the settlement, NextPlat Corp has agreed to pay Mr. Seifert $150,000 and reimburse him for legal costs amounting to $600,000.

The resolution of the lawsuit also includes mutual agreements between the Company and Mr. Seifert to dismiss the case with prejudice and release each other from any future claims. This settlement marks the conclusion of the legal dispute between the parties.

NextPlat Corp, a corporation based in Nevada, functions within the securities and financial sector. The company’s executive team, led by Charles M. Fernandez, the Executive Chairman and Chief Executive Officer, signed the report on October 29, 2024.

This settlement reflects NextPlat Corp’s efforts to resolve legal matters efficiently while maintaining focus on its operational objectives and commitment to its stakeholders. For more detailed information, interested parties can refer to the official SEC filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Orbital Tracking’s 8K filing here.

Orbital Tracking Company Profile

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Orbital Tracking Corp., through its subsidiaries, develops, distributes, and resells satellite enabled communications hardware; and provides products, airtime, and related services to customers in the United States and internationally. The company also provides equipment and airtime for use on various satellite networks, as well as short-term rental service for customers who want to use its equipment for a limited time period.

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