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We have taken the position that our failure to take possession and make any further payments under the lease is directly related to the COVID-19 pandemic.
−Removed: We intend to vigorously defend this action and believe that the above-referenced force majeure clause presents a complete defense to Plaintiff’s claims.
−Removed: Both parties have filed motions for summary judgment, and the parties are currently awaiting the decision of the court in respect thereof.
+Added: We are vigorously defending this action and believe that the above-referenced force majeure clause presents a complete defense to Plaintiff’s claims.
+Added: We filed a motion to dismiss;
+Added: both parties also filed motions for summary judgment.
+Added: In October 2022, the court denied our motion to dismiss on the basis that Plaintiff sufficiently pled facts that raise a plausible claim for relief, notwithstanding our possible defenses.
+Added: The court did not rule on either motion for summary judgment.
+Added: On November 14, 2022, we timely filed a formal answer to the complaint, denying each of Plaintiff’s substantive claims.
+Added: We also asserted appropriate affirmative defenses, including the force majeure clause of the lease, which provides that we are not liable under the lease in the event of a variety of events outside our control, including “pandemics.” In addition, we have asserted a counterclaim against the Plaintiff for breach of contract to recover the initial payments made under the lease as well as attorneys’ fees and costs.
As of the date of this report, there have been no material changes to the Risk Factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2021.
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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.