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From time-to-time, we become involved in various lawsuits, claims and proceedings relating to the conduct of our current and formerly owned businesses, including those pertaining to product liability, environmental, health and safety matters and occupational disease (including as each relates to alleged asbestos exposure), as well as patent infringement, commercial, government contracting, construction, employment, employee and retiree benefits, taxes, environmental, and stockholder and corporate governance matters.
−Removed: While we cannot predict the outcome of any lawsuit, claim or proceeding, our management believes that the disposition of any pending matters is not likely to have a material adverse effect on our financial condition or liquidity.
+Added: While we cannot predict the outcome of any lawsuit, claim or proceeding, our management
+Added: believes that the disposition of any pending matters is not likely to have a material adverse effect on our financial condition or liquidity.
The resolution in any reporting period of one or more of these matters, including those described above, however, could have a material adverse effect on our results of operations for that period.
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Commitments and Contingencies of the Notes to Consolidated Financial Statements and incorporated herein by reference.
−Removed: ATI Titanium LLC (ATI Titanium), a subsidiary of Allegheny Technologies Incorporated, is party to a lawsuit captioned US Magnesium, LLC v.
+Added: ATI Titanium LLC (ATI Titanium), a subsidiary of ATI Inc., was party to a lawsuit captioned US Magnesium, LLC v.
ATI Titanium LLC (Case No.
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In 2016, ATI Titanium notified USM that it would suspend performance under the Supply Agreement in reliance on certain terms and conditions included in the Supply Agreement.
−Removed: 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.
−Removed: A trial date has been set for October 11, 2022.
−Removed: While ATI Titanium intends to vigorously defend against and pursue these claims, it cannot predict their outcomes at this time.
+Added: USM subsequently filed a claim challenging ATI Titanium’s right to suspend performance under the Supply Agreement.
+Added: ATI Titanium and USM reached a litigation settlement in 2022 for $ 28.5 million, which was paid in the year ended December 31, 2022.
Mine Safety Disclosures
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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.