What changed in this filing

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Item 3. Legal Proceedings

2021-02-25 compared with 2020-02-28 · 28 added, 17 removed, 19 unchanged (70% of the section changed)

17 unchanged sentences

the Chancery Court’s ruling that MAC was required to participate in the Arbitration.

The parties have completed discovery

in the remanded matter, and both MTBC and RPRWC filed cross-motions for summary judgement in their favor.

On February 6, 2020,

the Chancery Court denied RPRWC’s motion for summary judgment and granted MTBC’s cross-motion for summary judgment.

The Chancery Court held that MTBC cannot be compelled to participate in the Arbitration.

RPRWC has informed MTBC that it does

not intend to appeal the Chancery Court’s ruling and that it intends to move forward solely against MAC in the Arbitration.

seeks compensatory damages of $6.6 million, plus costs, for MPMA’s alleged breach of the billing services agreement.

RPRWC’s

breach of contract and compensatory damages claims have not been the subject of the ongoing court proceedings, which have focused

solely on whether RPRWC can compel MTBC and MAC to arbitrate its claim.

Thus, RPRWC has not yet provided MAC with information

sufficient to enable it to estimate a range of possible losses that may arise from the Arbitration.

MAC intends to vigorously

defend against RPRWC’s claims.

If RPRWC is successful in the Arbitration, MAC anticipates the award would be substantially

less than the amount claimed.

The parties completed discovery in

the remanded matter, and both MTBC and RPRWC filed cross-motions for summary judgement in their favor.

On February 6, 2020, the

Chancery Court denied RPRWC’s motion for summary judgment and granted MTBC’s motion for summary judgment, holding

that MTBC cannot be compelled to participate in the Arbitration.

RPRWC has informed MTBC that it does not intend to appeal the

Chancery Court’s ruling and that it intends to move forward solely against MAC in the Arbitration.

On March 25, 2020, the

Chancery Court lifted the stay of arbitration relative to RPRWC and MAC.

to conflicting information provided by RPRWC, it is unclear what the extent of the claimed damages are in this matter which at

this time appear to be entirely speculative.

According to its arbitration demand, RPRWC seeks compensatory damages of $6.6 million,

plus costs, for MPMA’s alleged breach of the billing services agreement.

On June 12, 2020, in response to a directive from

the arbitrator, RPRWC disclosed a statement of damages to MAC in which it increased its alleged damages from $6.6 million and

costs to $20 million and costs.

On July 24, 2020, RPRWC disclosed a declaration to MAC, in which RPRWC estimates its damages to

be approximately $11 million plus costs.

MAC intends to vigorously defend against RPRWC’s claims.

is successful in the Arbitration, MTBC and MAC anticipate the award would be substantially less than the amount claimed.

see “Risk Factor - Acquisitions may subject us to liability with regard to the creditors, customers, and shareholders

of the sellers.”

in Part 1, Item 1A of this Annual Report on Form 10-K.

time to time, we may become involved in other legal proceedings arising in the ordinary course of our business.

Including the

proceedings described above, we are not presently a party to any legal proceedings that, in the opinion of our management, would

individually or taken together have a material adverse effect on our business, consolidated results of operations, financial position

or cash flows of the Company.

Mine Safety Disclosures

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.

What changed 10-K

Item 3. Legal Proceedings