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From time to time, we are involved in ordinary routine litigation incidental to the conduct of our business, including matters that may be certified as class or collective actions.
−Removed: There are no legal proceedings pending or, to our knowledge, threatened that we believe could have a material adverse impact on our business, reputation, results of operations or financial condition.
+Added: On June 1, 2021, the Company received a subpoena issued by the staff of the Division of Enforcement of the Securities and Exchange Commission (the “SEC Staff”) requesting certain documentation and information relating to the Company and to its commission and agent compensation practices during 2018 and 2019.
+Added: The Company is fully cooperating with the SEC Staff regarding this non-public, fact-finding inquiry.
+Added: The SEC Staff has informed the Company that this inquiry should not be construed as an indication that any violations of law have occurred or that the SEC Staff has formed an opinion concerning the Company’s agent compensation practices.
+Added: The Company does not believe that the inquiry will have a material impact on the Company’s financial condition, results of operations or cash flow, but can provide no assurance concerning the timing or outcome of the inquiry.
+Added: There are no other legal proceedings pending or, to our knowledge, threatened that we believe could have a material adverse impact on our business, reputation, results of operations or financial condition.
There were no material changes to the risk factors reported in Part I, “Item 1A.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.