SOURCE: IO Circuit

November 29, 2011 07:30 ET

Teletouch Communications (OTCBB: TLLE) and AT&T (NYSE: T) Reach Settlement and Renew Relations

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO CIRCUIT

NEW YORK, NY--(Marketwire - Nov 29, 2011) - Teletouch Communications, Inc. (OTCBB: TLLE) subsidiary Progressive Concepts, Inc. and AT&T (NYSE: T) have reached a multi-part settlement to ongoing litigation and renew distribution agreements. To view the entire company press release, please visit, http://finance.yahoo.com/news/Teletouch-Subsidiary-bw-3778145801.html?x=0.

Among the terms of the settlement are PCI's contracted right and authorization to sell, activate and provide services to Apple (NASDAQ: AAPL) iPhone and iPad models as a Distributor and to sell and activate such models as a Dealer.

Both AT&T and Verizon (NYSE: VZ) have reported they are struggling to keep up with the heavy demand for the iPhone and iPad this past weekend, which marked the kickoff to the holiday shopping season.

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