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Certain of such lawsuits, claims and proceedings are described in our Annual Report on Form 10-K for the year ended December 31, 2021, and addressed in Note 16 to the unaudited interim financial statements included herein.
−Removed: While the outcome of litigation cannot be predicted with certainty, and some of these lawsuits, claims or proceedings may be determined adversely to the Company, management does not believe that the disposition of any such pending matters is
−Removed: likely to have a material adverse effect on the Company’s financial condition or liquidity, although the resolution in any reporting period of one or more of these matters could have a material adverse effect on the Company’s results of operations for that period.
−Removed: ATI Titanium LLC (ATI Titanium), a subsidiary of Allegheny Technologies Incorporated, is party to a lawsuit captioned US Magnesium, LLC v.
+Added: While the outcome of litigation cannot be predicted with certainty, and some of these lawsuits, claims or proceedings may be determined adversely to the Company, management does not believe that the disposition of any such pending matters is likely to have a material adverse effect on the Company’s financial condition or liquidity, although the resolution in any reporting period of one or more of these matters could have a material adverse effect on the Company’s results of operations for that period.
+Added: ATI Titanium LLC (ATI Titanium), a subsidiary of ATI Inc., is party to a lawsuit captioned US Magnesium, LLC v.
ATI Titanium LLC (Case No.
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USM subsequently filed a claim challenging ATI Titanium’s right to suspend performance under the Supply Agreement, claiming that such suspension was a material breach of the Supply Agreement and seeking monetary damages, and ATI Titanium filed a counterclaim for breach of contract against USM.
−Removed: In 2018, USM obtained leave of the court to add Allegheny Technologies Incorporated as a separate party defendant, and ATI Titanium filed a motion to dismiss the claim against Allegheny Technologies Incorporated, which the court denied on April 19, 2019.
−Removed: After the conclusion of discovery, Allegheny Technologies Incorporated filed a motion for summary judgment.
−Removed: On August 17, 2021, the court granted the motion, and entered summary judgment in favor of Allegheny Technologies Incorporated finding that it is not the alter ego of ATI Titanium and that it did not breach any obligations allegedly owed to USM.
+Added: In 2018, USM obtained leave of the court to add ATI Inc.
+Added: as a separate party defendant, and ATI Titanium filed a motion to dismiss the claim against ATI Inc., which the court denied on April 19, 2019.
+Added: After the conclusion of discovery, ATI Inc.
+Added: filed a motion for summary judgment.
+Added: On August 17, 2021, the court granted the motion, and entered summary judgment
+Added: in favor of ATI Inc.
+Added: finding that it is not the alter ego of ATI Titanium and that it did not breach any obligations allegedly owed to USM.
A trial date has been set for October 11, 2022.
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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.