2 unchanged sentences
We are not a party to any pending legal proceeding other than ordinary, routine litigation incidental to our business.
−Removed: In April of fiscal 2025, a trial involving a product liability claim against us resulted in a jury verdict demanding us to pay approximately $3,000,000 in damages.
−Removed: We along with our attorneys believe we will be successful in overturning this verdict and that payment of the damages is not probable.
−Removed: As such we have not accrued the damages at March 31, 2024.
−Removed: We do not believe that any of our pending litigation will have a material impact on our business.
+Added: In April 2024, a trial involving a product liability claim against us resulted in a jury verdict of approximately $3,000,000 in damages.
+Added: We, along with our attorneys, believe that we will be successful in reversing this verdict and that payment of the damages is not probable.
+Added: As such we have not accrued for these damages at March 31, 2025.
+Added: In addition, we do not believe that any of our current pending litigation will have a material impact on our business.
We maintain comprehensive general product liability insurance against risks arising out of the use of our products sold to customers through our wholly owned New York State captive insurance subsidiary of which we are the sole policy holder.
2 unchanged sentences
These limits range from $2,000,000 to $6,000,000 for each policy year from inception through fiscal 2025.
−Removed: We obtain additional insurance coverage from independent insurers to cover potential losses in excess of these limits.
+Added: In addition, we carry excess liability insurance coverage from independent insurers to cover potential losses.
Like many industrial manufacturers, we are also involved in asbestos-related litigation.
5 unchanged sentences
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.