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.
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
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.
See Also
- Five stocks we like better than Orbital Tracking
- How to Plot Fibonacci Price Inflection Levels
- Is McDonald’s Stock a Smart Buy After Sell-Off and Earnings?
- Comparing and Trading High PE Ratio Stocks
- QuantumScape: Solid State EV Batteries Nearing Commercialization
- Russell 2000 Index, How Investors Use it For Profitable Trading
- MicroStrategy: Is This Bitcoin-Powered Stock a Buy or a Gamble?
