Item 1. Legal Proceedings
Item 1. Legal Proceedings
DarkPulse, Inc. v. Twitter, Inc.
As disclosed in greater detail in the Company’s
Form 10-K, filed April 15, 2022, the Company’s investigation of the Investor News matter remains ongoing.
On October 21, 2022, the Company filed a petition
against Twitter, Inc. in the Supreme Court of the State of New York County of New York to compel disclosure of the owner(s) and operator(s)
of two certain Twitter accounts: “Mike Wood” (@MIKEWOOD) and “Bull Meechum” (@BullMeechum3). The petition seeks
disclosure of the owner(s) and operator(s) of the aforementioned accounts so the Company can commence an action against such individuals
for damages arising from false, misleading, and untrue statements made by the same.
On October 25, 2022, the court signed an order
to show cause directing Twitter to show cause on or before November 4, 2022 as to why an order compelling disclosure of the identities
of the owner(s) / operator(s) of the @MIKEWOOD and @BullMeechum3 Twitter accounts should not be made.
Carebourn Capital, L.P. v. DarkPulse, Inc.
As disclosed in greater detail in the Company’s
Form 10-Q, filed August 10, 2022, the Company remains in active litigation with Carebourn Capital, L.P. (“Carebourn”) in Minnesota
State Court. There are no material updates to this litigation.
The Company remains committed to actively litigating
its affirmative defenses and claims for relief under the Securities Exchange Act of 1934.
More Capital, LLC v. DarkPulse, Inc. et al
As disclosed in greater detail in the Company’s
Form 10-Q, filed August 10, 2022, the Company remains in active litigation with More Capital, LLC (“More”) in Minnesota State
Court. There are no material updates to this litigation.
The Company remains committed to actively litigating
its affirmative defenses and claims for relief under the Securities Exchange Act of 1934.
Goodman et al. v. DarkPulse, Inc.
As disclosed in greater detail in the Company’s
Form 10-Q, filed November 15, 2021, on September 10, 2021, Stephen Goodman, Mark Banash, and David Singer (“Former Officers”)
commenced suit against the Company in Arizona Superior Court, Maricopa County.
As of the date hereof, the Company is engaged
in settlement negotiations with the Former Officers.
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DarkPulse, Inc. v. FirstFire Global Opportunities Fund, LLC, and
Eli Fireman
As disclosed in greater detail in the Company’s
Form 10-Q, filed August 10, 2022, the Company remains in active litigation with FirstFire Global Opportunities Fund, LLC (“FirstFire”),
and Eli Fireman (“Fireman”) (FirstFire and Fireman together, the “FirstFire Parties”).
As previously disclosed therein, the FirstFire
Parties’ motion to dismiss the Company’s first amended complaint has been fully submitted to the Court. On May 26, 2022, the
FirstFire Parties requested oral arguments on their motion to dismiss. As of the date hereof, oral arguments have not been scheduled and,
further, no decision has been rendered on the FirstFire Parties’ motion to dismiss.
The Company remains committed to actively litigating
its claims for relief under the Securities Exchange Act of 1934.
DarkPulse, Inc. v. EMA Financial, LLC et al
As disclosed in greater detail in the Company’s
Form 10-Q, filed August 10, 2022, the Company remains in active litigation with EMA Financial, LLC (“EMA”), EMA Group, Inc.
(“EMA Group”), and Felicia Preston (“Preston”) (EMA, EMA Group, and Preston together, the “EMA Parties”).
As of July 22, 2022, the EMA Parties’ motion
to dismiss the Company’s first amended complaint is fully submitted. As of the date hereof, no decision has been rendered on the
EMA Parties’ motion to dismiss.
The Company remains committed to actively litigating
its claims for relief under the Securities Exchange Act of 1934 and Racketeer Influenced and Corrupt Organizations Act.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.