idt to challenge competitor's claims
HACKENSACK, N.J.--(BUSINESS WIRE)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.
<<Business Wire, 12-17-98, 12:17 Eastern>>
CONTACT: IDT Public Relations | Sarah
Hofstetter | 201/928-2882 | or | IDT
Investor Relations | Janine Kutliroff |
201/928-4391
[Copyright 1998, Business Wire] |
