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November 27, 2012
15:19 EDTOTIVOn Track holder Ivy proposed the removal of three existing directors
On November 20, counsel for Mr. Ivy submitted to the Board of Directors of On Track Innovations a Notice of Meeting, Proxy Statement and Proxy Card for an Extraordinary General Meeting of the Shareholders to be held on December 27. The November Proxy Materials proposed to remove three existing directors and to elect eight (8) new directors nominated by Mr. Ivy. These proposals were virtually the same as the proposals submitted to On Track on October 19. Counsel requested that the Issuer file and mail the documents to the Issuer’s shareholders. In response, On Track's legal counsel indicated that, if Mr. Ivy would withdraw his request, the Board would agree to call the requested shareholder meeting to consider removal of the three existing directors and the election of Mr. Ivy’s nominees. Counsel for On Track and counsel for Mr. Ivy exchanged drafts of the form of proxy materials for a shareholder meeting to be scheduled for late December. On Nov. 21st, Mr. David P. Stone and Mr. Mark Green resigned from the Issuer’s board of directors.
News For OTIV From The Last 14 Days
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September 30, 2015
11:31 EDTOTIVOn Track Innovations files patent infringement lawsuits against AT&T, Verizon
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September 25, 2015
09:50 EDTOTIVOn Track says reaches agreement in principle with T-Mobile to settle claims
On Track Innovations (OTIV) announced in a regulatory filing that on September 24, it notified the U.S. District Court, Southern District of New York, jointly with T-Mobile (TMUS) that the parties have reached an agreement in principle to settle both of the company's claims against T-Mobile and the parties requested from the Court a 30-days stay of all deadlines pending in both actions to negotiate the terms of a settlement agreement. The company expects that the net proceeds from the settlement with T-Mobile, if such settlement is reached, should not be significant and under Company's initial expectations.

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