Item 3. Legal Proceedings
ITEM
3. LEGAL PROCEEDINGS
On July 23, 2021, a wholly
owned subsidiary of the Company, Paltalk Holdings, Inc., filed a patent infringement lawsuit against WebEx Communications, Inc., Cisco
WebEx LLC, and Cisco Systems, Inc. (collectively, “Cisco”), in the U.S. District Court for the Western District of Texas.
The Company alleges that Cisco’s Webex products have infringed U.S. Patent No. 6,683,858, and that the Company is entitled to damages.
A Markman hearing took place on February 24, 2022 and a trial is scheduled for early 2023.
To
our knowledge, other than as described above, there are no material pending legal proceedings to which we are a party or of which any
of our property is the subject.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
23
PART
II
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