7 unchanged sentences
Second, Accor asserts a counterclaim for breach of contract on the basis that Ashford TRS Chicago II breached the management agreement by wrongfully maintaining that the Cure Amount for the 2018 and 2019 Performance Test failure is $1,031,549 instead of $535,120.
−Removed: As of March 31, 2021, no amounts have been accrued.
+Added: As of June 30, 2021, no amounts have been accrued.
One of the Company’s hotel management companies is currently involved in litigation regarding its employment policies and practices at multiple California hotels, including one of the Company’s hotels.
1 unchanged sentence
however, it is entitled to indemnification for a portion of such loss.
−Removed: As of March 31, 2021, approximately $500,000 has been accrued.
+Added: As of June 30, 2021, approximately $500,000 has been accrued.
In June 2020, each of the Company, Ashford Trust, Ashford Inc., and Lismore, a subsidiary of Ashford Inc.
6 unchanged sentences
Bennett are responding to the administrative subpoenas.
−Removed: A class action lawsuit has been filed against one of the Company’s hotel management companies alleging violations of certain California employment laws, which class action affects two hotels owned by subsidiaries of the Company.
+Added: On December 20, 2016, a class action lawsuit was filed against one of the Company’s hotel management companies in the Superior Court of the State of California in and for the County of Contra Costa alleging violations of certain California employment laws, which class action affects two hotels owned by subsidiaries of the Company.
The court has entered an order granting class certification with respect to:
3 unchanged sentences
Potential class members had until April 4, 2021 to opt out of the class, however, the total number of employees in the class has not been definitively determined and is the subject of continuing discovery.
−Removed: While we believe it is reasonably possible that we may incur a loss associated with this litigation, because there remains uncertainty under California law with respect to a significant legal issue, discovery relating to class members continues, and the trial judge retains discretion to award lower penalties than set forth in the applicable California employment laws, we do not believe any potential loss to the Company is reasonably estimable at this time.
−Removed: As of March 31, 2021, no amounts have been accrued.
+Added: While we believe it is reasonably possible that we may incur a loss associated with this litigation, because there remains uncertainty under California law with respect to a significant legal issue, discovery relating to class members continues, and the trial judge retains discretion to award lower penalties than set forth
+Added: in the applicable California employment laws, we do not believe any potential loss to the Company is reasonably estimable at this time.
+Added: As of June 30, 2021, no amounts have been accrued.
+Added: As of June 30, 2021, the Company has an $800,000 receivable from Ashford Trust, included in Due from related parties, net.
+Added: The receivable relates to a legal settlement between Ashford Trust and the City of San Francisco regarding a transfer tax matter associated with the transfer of The Clancy from Ashford Trust to Braemar upon Braemar’s 2013 spin-off from Ashford Trust.
+Added: The transfer taxes were initially paid by Braemar at the time of the spin-off.
+Added: The $800,000 gain is included in “(gain) loss on legal settlements” on the condensed consolidated statements of operations.
We are also engaged in other legal proceedings that have arisen but have not been fully adjudicated.
3 unchanged sentences
We recognize a loss when we believe the loss is both probable and reasonably estimable.
−Removed: Based on the information
−Removed: available to us relating to these legal proceedings and/or our experience in similar legal proceedings, we do not believe the ultimate resolution of these proceedings, either individually or in the aggregate, will have a material adverse effect on our consolidated financial position, results of operations, or cash flow.
+Added: Based on the information available to us relating to these legal proceedings and/or our experience in similar legal proceedings, we do not believe the ultimate resolution of these proceedings, either individually or in the aggregate, will have a material adverse effect on our consolidated financial position, results of operations, or cash flow.
However, our assessment may change depending upon the development of these legal proceedings, and the final results of these legal proceedings cannot be predicted with certainty.
1 unchanged sentence
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.