9 unchanged sentences
The plaintiffs seek damages and interest, and an award of costs, including attorneys’ fees.
−Removed: On September 28, 2021, several shareholders filed motions to consolidate the two putative class actions and to be appointed lead plaintiff and have their selection of counsel be appointed lead counsel, and on July 19, 2022, the court issued an order to consolidate the two putative class actions and appointed the lead plaintiff and lead counsel.
−Removed: The parties have agreed upon a proposed schedule for the lead plaintiff to file a consolidated amended complaint and for defendants to file a motion to dismiss.
+Added: On July 19, 2022, the court consolidated the two putative class actions and appointed a lead plaintiff and lead counsel.
+Added: The lead plaintiff filed an amended complaint on September 29, 2022.
+Added: Defendant’s motion to dismiss the amended complaint is due December 2, 2022.
+Added: A hearing on the anticipated motion to dismiss has not yet been scheduled.
We believe the plaintiff’s claims are without merit and we have not recorded any accrual for a contingent liability associated with these legal proceedings.
On December 7, 2021 and March 29, 2022, two verified shareholders derivative lawsuits were filed purportedly on behalf of Ardelyx against certain of Ardelyx’s executive officers and members of our board of directors, captioned Go v.
+Added: Raab, et al., Case No.
4:21-cv-09455-HSG, and Morris v.
+Added: Raab, et al., Case No.
4:22-cv-01988-JSC.
The complaints allege violations of Section 14(a) of the Exchange Act, breaches of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and waste, and seek contribution under Sections 10(b) and 21D of the Securities Exchange Act of 1934 from two executive officers.
−Removed: On January 19, and April 27, 2022, the court granted the parties’ stipulation to stay the Go and Morris actions, respectively, until resolution of the anticipated motion(s) to dismiss in the Securities Class Actions, and the cases remain stayed.
+Added: On January 19, and April 27, 2022, the court granted the parties’ stipulation to stay the Go and Morris actions, respectively, until resolution of the anticipated motion(s) to dismiss in the Securities Class Actions.
+Added: On October 25, 2022, the parties filed a stipulation to consolidate and stay the Go and Morris actions, and on October 27, 2022, the court consolidated the Go and Morris action and stayed the consolidated action pending resolution of the anticipated motion(s) to dismiss in the Securities Class Action.
From time to time, we may be involved in legal proceedings arising in the ordinary course of business.
−Removed: As of June 30, 2022, there is no litigation pending that would reasonably be expected to have a material adverse effect on our results of operations and financial condition, and no contingent liabilities were accrued as of June 30, 2022.
+Added: As of September 30, 2022, there is no litigation pending that would reasonably be expected to have a material adverse effect on our results of operations and financial condition, and no contingent liabilities were accrued as of September 30, 2022.
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.