AIM ImmunoTech Inc. 10-Q

ITEM 1: Legal Proceedings Please see Part I, Item 3. Legal Proceedings in our Annual Report on Form 10-K for the year ended December 31, 2022 as updated below. In our lawsuit against BioLife Plasma Services, LP, the trial court issued a ruling in March 2023 on cross Motions for Summary Judgment in which it denied all of our motions and granted defendant’s Motion to exclude evidence of future loss of profit damages. The ruling specified that we had properly pled and the Court was allowing our damages theory to proceed on reliance damages. We have sought reconsideration of the ruling based on its internal inconsistency with the contemporaneous Order which allowed only the counterclaims to proceed. In July we sought appellate review of the inconsistent lower Court pretrial rulings. The lower Court could, but as of yet has not, ruled on the pending motion before it. While at this time we cannot estimate the potential likelihood of recovery against the defendants, we believe we have a valid claim. On July 20, 2023, we filed an application in the Jorgl v. AIM Immunotech, Inc. et al. action in in the Delaware Court of Chancery for fee shifting against Jorgl based on the bad faith litigation doctrine. In connection therewith we also filed two motions seeking leave to take additional targeted discovery and to compel the production of documents inappropriately withheld as privileged. On that date, Jorgl also filed a motion for fee shifting against us in connection with two subpoenas served on his counsel and others who were supporting his nomination and litigation efforts and a related motion to compel. On July 25, 2023, Jorgl filed a motion to strike our two discovery motions, which motion the Court denied on August 8, 2023. The parties will complete briefing on the discovery motions and the Court will likely schedule oral argument on those motions. We do not anticipate briefing and argument on the fee shifting motions to be completed until the discovery disputes are resolved. On July 10, 2023, the Court, in AIM ImmunoTech, Inc. v. Tudor, et al., Case 5:22-cv-00323 (M.D. Florida), dismissed our complaint as moot. On August 7, 2023, we moved to have the Court reconsider its order and require the Defendants to answer our complaint on the grounds that the recent actions of at least two of the Defendants seeking to have themselves and another elected to our Board at the next annual meeting of stockholders demonstrates that our complaint is not moot.