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The jury found the defendants owed Clapper nothing and the Court issued a take nothing judgment.
−Removed: Clapper subsequently filed and appeal to the US Fifth Circuit Court of Appeals.
−Removed: In February 2019, Paul Berger (“Berger”) filed a lawsuit against us, our directors, our officers and others that alleges that we completed improper sales and/or transfers of property with IOR.
−Removed: Berger requests that we pay off various related party loans to IOR and that IOR then distribute the funds to IOR's stockholders.
−Removed: We intend to vigorously defend against the allegations.
−Removed: The trial for this matter is scheduled for November 2022.
−Removed: In connection with the formation of VAA, ten of the properties that we contributed to the joint venture were subject to an earn-out provision that provided for a remeasurement of the value of those properties after a two-year period following the completion of construction (the "Earn Out Obligation").
−Removed: We were unable to reach agreement with our joint venture partner on the remeasured value, and as a result, the parties filed for arbitration in accordance with the joint venture agreement.
−Removed: On July 13, 2021, we received the arbitration verdict in connection with our dispute on the measurement of the Earn Out Obligation, which determined that our position and claims were declined, and the position of Macquarie was fully accepted.
−Removed: As a result, we were ordered to pay approximately $39.6 million to Macquarie to satisfy the Earn Out Obligation.
+Added: Clapper subsequently filed and appeal to the US Fifth Circuit Court of Appeals, which has the case under review.
+Added: In February 2019, Paul Berger ("Berger") filed suit against us and others that IOR completed improper sales and/or transfers of property.
+Added: Berger sought to proceed derivatively and directly, requested a payoff of various related party loans to IOR and that IOR then distribute the funds to its stockholders.
+Added: After discovery and motions to dismiss substantial portions of the complaint, on June 28, 2022, Berger sought to voluntarily dismiss the action for reasons stated in the motion.
+Added: The parties have not entered into any settlement, and neither Berger nor their counsel has received any consideration for the voluntary dismissal.
+Added: On January 4, 2023, the United States District Court entered a formal order that dismissed the action with prejudice.
+Added: We are defendants in litigation related to a property sale ("Nixdorf") that was that was completed in 2008, which was tried to a jury in March 2023.
+Added: On March 18, 2023, the jury in the case returned a “Plaintiff take nothing” verdict in our favor.
+Added: If judgment is finally rendered by the Court confirming the jury verdict, Plaintiff may well appeal.
MINE SAFETY DISCLOSURES
1 unchanged sentence
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.