LEGAL PROCEEDINGS
−Removed: We are a defendant or co-defendant in lawsuits, claims and demands brought by various parties relating to matters normally incident to our business.
−Removed: No individual case, or group of cases against us, presenting substantially similar issues of law or fact, is expected to have a material effect on the manner in which we conduct our business or on our consolidated results of operations, financial position or liquidity.
−Removed: The majority of these cases are alleging product, premises, employment and/or commercial liability.
−Removed: Reserves have been established that we believe to be adequate based on our current evaluations and experience in these types of claim situations;
−Removed: however, the ultimate outcome of these cases cannot be determined at this time.
−Removed: We believe, taking into consideration our indemnities, defenses, insurance and reserves, the ultimate resolution of these matters will not have a material impact on our financial position, results of operations or cash flows.
−Removed: In addition, government agencies and self-regulatory organizations have the ability to conduct periodic examinations of and administrative proceedings regarding our business.
−Removed: In May and December 2023, U.S.
−Removed: Customs and Border Protection ("CBP") notified us that we owed additional duties relating to certain products that we imported from China that CBP believes are subject to certain anti-dumping and/or countervailing duties.
−Removed: We do not believe that these products are subject to such duties and are contesting CBP’s determination vigorously.
−Removed: While we contest CBP’s determination, we were required to deposit with CBP an amount of duties relating to these products, which are included in prepaid expenses and other current assets on the Company’s consolidated balance sheet while this matter is pending.
−Removed: We anticipate that this matter will be resolved without a material adverse effect on our financial position, results of operations or cash flows.
−Removed: However, the ultimate outcome of this matter cannot be determined at this time, and we cannot assure you that we will be successful in contesting CBP's determination or that we will not need to accrue or pay additional amounts in the future.
−Removed: There have been no material developments during the fiscal quarter ended May 4, 2024, with respect to any of the matters discussed under the heading "Legal Proceedings" in the Annual Report.
+Added: The information set forth in Note 10—Commitments and Contingencies—Legal Proceedings and Note 11—Subsequent Events (Resolution of CBP Matter) to our unaudited consolidated financial statements included under Part I, Item 1 of this Quarterly Report is incorporated herein by reference.
+Added: Other than as described above, there have been no material developments during the fiscal quarter ended August 3, 2024, with respect to any of the matters discussed under the heading "Legal Proceedings" in the Annual Report.
We are not currently party to any other legal proceedings that we believe would have a material adverse effect on our financial position, results of operations or cash flows.
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.