HACKENSACK, N.J.--(BUSINESS WIRE)--Dec. 17, 1998--IDT (NASDAQ:IDTC) Corporation, a leading provider of domestic and international
long distance telecommunications services, announced today that it
intends to vigorously contest the law suit that has been filed against
it by PT-1 Communications, Inc. In this legal action, PT-1 has alleged
that a number of IDT's prepaid calling card products copy the trade
dress of PT-1's long-distance calling cards.
The action was filed on December 16th, and based upon its review,
IDT believes that the action is without merit, and that it expects to
prevail in such action.
"I have personally discussed this issue with our attorneys, who
have assured me that there is no merit to this claim," said IDT's
President Jim Courter. "This is more of a tactic to suppress free
market competitive forces from a fast-growing competitor."
IDT is a leading emerging multinational carrier that combines its
position as an international telecommunications operator, its
experience as an Internet service provider and its leading position in
Internet telephony to provide a broad range of telecommunications
services to its wholesale and retail customers worldwide. The company
provides its customers with integrated and competitively priced
international and domestic long distance, pre-paid calling cards,
Internet access and, through its Net2Phone product offerings, Internet
telephony services including Net2Phone Direct, Net2Fax, and
Click2Talk.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Such forward-looking
statements include, among other things, the results of litigation
relating to IDT. Actual results could differ from those projected in
any forward-looking statements. The forward-looking statements are
made as of the date of this press release, and IDT assumes no
obligation to update the forward-looking statements, or to update the
reasons why actual results could differ from those projected in the
forward-looking statements. Investors should consult all of the
information set forth herein and the other information set forth from
time to time in IDT's reports filed with the Securities and Exchange
Commission pursuant to the Securities Act of 1933 and the Securities
Exchange Act of 1934, including the Company's Annual Report on Form
10-K, as amended, for the year ended July 31, 1998.
CONTACT: IDT Public Relations
Sarah Hofstetter
201/928-2882
or
IDT Investor Relations
Janine Kutliroff
201/928-4391 |
