Business
Social Life Network (OTC: WDLF) Files $5,000,000 Complaint in The United States District Court for the Southern District of Florida
Social Life Network (OTC: WDLF) Files $5,000,000 Complaint in The United States District Court for the Southern District of Florida.
About this update from Decentral Life, Inc.
[{"type":"text","content":"LOS ANGELES, CA, April 09, 2021 (GLOBE NEWSWIRE) -- Social Life Network, Inc. (OTC: WDLF), announces today that it has filed a $5,000,000 complaint against a convertible debt funder for multiple alleged violations of Federal Securities Laws.Shareholders can review the complaint at this link: https://ecf.flsd.uscourts.gov/doc1/051123235625“Our management team is sending a clear message that we are not going to sit back and allow the [alleged] illegal trading activities referenced in the complaint to damage our shareholders,” said CEO Ken Tapp. “Our board is in unanimous agreement to support our litigation team 100% with any resources it requires and to identify and pursue participants in illegal trading activity of our stock, which injures small retail shareholders supporting the growth of companies like our own.”About Social Life Network, Inc.Social Life Network is a Technology Business Incubator (TBI) that, through individual licensing agreements, provides tech start-ups with seed technology development, legal and executive leadership, making it easier for start-up founders to focus on raising capital, perfecting their business model, and growing their network user-ship. Our seed technology is an artificial intelligence (“AI”) powered social network and Ecommerce platform that leverages blockchain technology to increase speed, security and accuracy on the niche social networks that we license to the companies in our TBI. Since the launch of the company in January of 2013, the Company has launched niche industry social networks to service the millions of business professionals and consumers in the residential real estate industry, the legal global cannabis industry, sports verticals including racket sports, golf, cycling, soccer, space exploration, auto racing, travel, hunting, fishing and camping. The Company operates in part, like a publicly traded tech incubator, and retains ownership in each licensee through stock and options ownership when they reach a contracted user ship growth, outlined in their licensing contracts. This allows the Company to minimize its expenses and exposure to failed startups licensees that use its platform.For more information, visit our website @ www.SocialNetwork.aiWatch our latest shareholder update podcasts @ www.SocialNetwork.ai/podcastSAFE HARBOR & DISCLAIMERThis information ...