3 unchanged sentences
Shareholder Class Action
−Removed: On May 6, 2024, a shareholder class action complaint was filed in the U.S.
+Added: On May 6, 2024, a putative shareholder class action complaint was filed in the U.S.
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.
1 unchanged sentence
Fischer, our Chief Financial Officer.
−Removed: The court transferred the case to the Northern District of California, where our headquarters is located.
+Added: The court transferred the case to the Northern District of California, where our headquarters are located.
A lead plaintiff has been appointed and an amended complaint was filed.
1 unchanged sentence
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.
−Removed: The motion to dismiss is due on November 8, 2024.
+Added: Defendants’ motion to dismiss is fully briefed and pending before the Court.
Derivative Action
−Removed: On August 22, 2024, a derivative lawsuit was filed in the Northern District of California by a shareholder against Morris S.
+Added: On August 22, 2024, a derivative lawsuit was filed in the Northern District of California by an alleged shareholder against Morris S.
Young, our Chief Executive Officer, Gary L.
1 unchanged sentence
Chang, Jesse Chen, and Christine Russell, and former director Leonard J.
−Removed: LeBlanc, with the Company named as a nominal defendant.
−Removed: The 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.
−Removed: The motion to dismiss is due on November 15, 2024.
−Removed: It is not possible at this time to reasonably assess the final outcomes of these litigations or reasonably to estimate the possible loss or range of loss with respect to these litigations.
−Removed: Management believes these claims to be meritless and intends to vigorously defend against them.
+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: On March 17, 2025, the Court granted our motion to dismiss, holding that the plaintiff did not make a pre-suit demand on our Board of Directors and failed to plead with particularity facts sufficient to excuse the lack of a demand and also for failure to state a claim.
+Added: On April 11, 2025, the plaintiff filed a notice that he did not intend to further amend his complaint.
+Added: The Court entered judgment on April 14, 2025.
+Added: On May 13, 2025, Plaintiffs filed a notice of appeal.
+Added: It is not possible at this time to reasonably assess the final outcome of the putative shareholder class action or to reasonably estimate the possible loss or range of loss with respect to that litigation.
+Added: We believe these claims to be meritless and intend to vigorously defend against them.
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.