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We do not expect that any of these matters, individually or in the aggregate, will have a material adverse effect on our business, financial condition, cash flows or results of operations.
+Added: Shareholder Class Action
+Added: On May 6, 2024, a putative shareholder class action complaint was filed in the U.S.
+Added: District Court for the Eastern District of New York on behalf of persons or entities who purchased or acquired our publicly traded securities, against us, Morris S.
+Added: Young, our Chief Executive Officer, and Gary L.
+Added: Fischer, our Chief Financial Officer.
+Added: The court transferred the case to the Northern District of California, where our headquarters are located.
+Added: A lead plaintiff has been appointed and an amended complaint was filed.
+Added: The amended complaint asserts a putative class period from March 24, 2021 and April 3, 2024, inclusive (the “Class Period”).
+Added: The amended complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder by the defendants, and seeks unspecified monetary relief, interest, and attorneys’ fees.
+Added: Defendants’ motion to dismiss is fully briefed and pending before the Court.
+Added: Derivative Action
+Added: On August 22, 2024, a derivative lawsuit was filed in the Northern District of California by an alleged shareholder against Morris S.
+Added: Young, our Chief Executive Officer, Gary L.
+Added: Fischer, our Chief Financial Officer, current directors David C.
+Added: Chang, Jesse Chen, and Christine Russell, and former director Leonard J.
+Added: LeBlanc, with the Company named as a nominal defendant (together, “Defendants”).
+Added: Defendants moved to dismiss on November 6, 2024, following which the plaintiff filed an amended complaint on November 20, 2024.
+Added: The amended complaint asserts that the Defendants breached their fiduciary duties to the Company based on the allegations asserted in the original complaint in the putative shareholder class action.
+Added: On November 27, 2024, Defendants again moved to dismiss.
+Added: The motion to dismiss is fully briefed and pending before the Court.
+Added: It is not possible at this time to reasonably assess the final outcomes of these litigations or to reasonably estimate the possible loss or range of loss with respect to these litigations.
+Added: We believe these claims to be meritless and intend to vigorously defend against them.
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.