1 unchanged sentence
time to time, the Company is a party to, or otherwise involved in, legal proceedings arising in the normal course of business.
−Removed: the date of this Report, except as described below, the Company is not aware of any proceedings, threatened or pending, against it which,
−Removed: if determined adversely, would have a material effect on its business, results of operations, cash flows or financial position.
−Removed: Insurance Underwriters Inc.
−Removed: (“Liberty”) filed suit against us in federal court in Delaware seeking a declaratory judgment
−Removed: that there was no insurance coverage for any settlement, judgment, or defense costs in the class and derivative litigation, that the
−Removed: monies totaling approximately $1 million it paid to the Company in connection with the SEC investigation were not covered by insurance,
−Removed: and for recoupment of the monies already paid.
−Removed: We had retained counsel to defend us which had filed an answer to the complaint denying
−Removed: its material allegations, as well as a counterclaim against Liberty for breach of contract, declaratory judgment, bad faith and violation
−Removed: of the Washington State Consumer Protection Act, alleging among other things that Liberty wrongfully denied the Company’s claims
−Removed: for coverage of the class and derivative litigations, and seeking money damages.
−Removed: Liberty Insurance Underwriters Inc.
−Removed: filed suit against
−Removed: us in federal court in Delaware seeking a declaratory judgment that there was no insurance coverage for any settlement, judgment, or
−Removed: defense costs in the class and derivative litigation, that the monies totaling approximately $1 million it paid to the Company in connection
−Removed: with the SEC investigation were not covered by insurance, and for recoupment of the monies already paid.
−Removed: On June 7, 2022, the court filed
−Removed: a Stipulation and Order for Entry of Judgment in the amount of $1,359,064 in favor of Liberty (the “Judgment”) following
−Removed: summary judgment granted by the court to Liberty on all but one of the matters at issue in the case.
−Removed: The Company filed an appeal in July
−Removed: On March 29, 2023, the Third Circuit ruled in favor of the Company on the appeal, thereby vacating the trial court’s prior
−Removed: grant of summary judgment in favor of Liberty.
−Removed: As a result of this ruling, the case has been remanded to the District Court for trial
−Removed: on the merits of the Company’s coverage claims for defense and settlement costs.
−Removed: The Court had ordered the return of the $1.6 million.
−Removed: On August 8, 2023, the Company received $1.6 million as refunded by the registry of the court.
−Removed: On November 16, 2023, prior to commencement
−Removed: of a new trial which had been scheduled for December 4, 2023, the parties entered into a settlement agreement pursuant to which Liberty
−Removed: paid the Company $1 million and each party released the other from its respective claims and rights arising from the matter.
−Removed: no further litigation with Liberty following this settlement.
+Added: the date of this Report, the Company is not aware of any pending legal proceedings to which the Company or any of its subsidiaries is
+Added: a party which, if determined adversely, would have a material effect on its business, results of operations, cash flows or financial
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.