What changed in this filing

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Item 3. Legal Proceedings

2024-03-14 compared with 2023-03-16 · 35 added, 35 removed, 110 unchanged (39% of the section changed)

29 unchanged sentences

On March 9, 2022, the court entered a Decision & Order denying the motion to

dismiss, and on April 13, 2022, the defendants filed an answer to the SAC.

On October 17, 2022, Gelt filed a motion to certify the putative

Discovery is currently underway and the motion to certify the class is pending.

The defendants believe the claims are without

merit and intend to defend vigorously against them, but there can be no assurances as to the outcome.

dismiss, but narrowing the challenged statements to only those made in the May 1, 2020 press release, and on April 13, 2022, the defendants

filed an answer to the SAC.

On October 17, 2022, Gelt filed a motion to certify the putative class, and on August 18, 2023, the court

partially granted that motion, certifying a class of all those who purchased Co-Diagnostics securities between May 1, 2020 and May 14,

2020, dates inclusive, and who were damaged thereby.

Fact discovery closed on August 18, 2023 and expert discovery is currently underway.

Summary judgment motions and motions to exclude expert testimony are due April 10, 2024;

no trial date has yet been set.

The defendants

believe the claims are without merit and intend to defend vigorously against them, but there can be no assurances as to the outcome.

Derivative Lawsuits (District of Utah & Utah State Court)

12 unchanged sentences

Defendants answered the amended complaint on June 24, 2022.

25, 2024, the consolidated Aguilera derivative action was voluntarily dismissed without prejudice.

November 24, 2020, an additional shareholder derivative lawsuit was filed in the District of Utah by Matthew Wallace, allegedly on behalf

8 unchanged sentences

and claims for insider trading.

On January 26, 2024, the court ordered the parties’ proposed revised case schedule, setting fact

and expert discovery deadlines throughout 2024 and early 2025;

dispositive motions are due June 1, 2025, but no trial date has yet been

March 29, 2021, an additional shareholder derivative lawsuit was filed in the Third District Court in and for Salt Lake County, State

17 unchanged sentences

its financial results for the quarter ended June 30, 2022 in a press release on August 11, 2022.

On October 31, 2022, Stadium filed a

motion seeking to be appointed as Lead Plaintiff and for Kaplan Fox & Kilsheimer LLP to be appointed as lead counsel.

is pending before the U.S.

District Court.

The defendants believe the claims are without merit and intend to defend vigorously against

them, but there can be no assurances as to the outcome.

On September 19, 2022, a second plaintiff,

Drew Lee, filed a similar complaint in the same court against the same defendants alleging essentially the same claims.

2023, the court consolidated these two securities class actions into the Stadium action and appointed Stadium as lead plaintiff.

21, 2023, Stadium filed a consolidated amended complaint, and on October 20, 2023, defendants moved to dismiss.

On February 5, 2024,

the Court granted in part and denied in part the defendants’ motion to dismiss.

On February 20, 2024, the defendants answered the

consolidated amended complaint, and the parties are now engaged in discovery.

The defendants believe the claims are without merit and

intend to defend vigorously against them, but there can be no assurances as to the outcome.

Co-Diagnostics,

16 unchanged sentences

requests, and conducted a number of depositions on each side that were concluded in January 2023.

The Company believes the claims are

without merit and intends to defend vigorously against them, but there can be no assurances as to the outcome.

On June 1, 2023 the Company filed a

Motion for Summary Judgment asking the court for summary judgment on its sole claim for declaratory relief and for summary judgment with

respect to all Hukui counterclaims.

On November 7, 2023, the Court issued its decision and granted the Company summary judgment on its

sole claim for declaratory relief and on all Hukui counterclaims.

On December 22, 2023, Hukui filed a notice of appeal of the final judgment

in its entirety with the Utah Supreme Court.

The Company believes the claims are without merit and intends to defend vigorously against

them, but there can be no assurances as to the outcome.

Co-Diagnostics,

16 unchanged sentences

LLP in that matter.

On March 4, 2022, the Company filed a jurisdictional challenge to the UK suit, alleging that there was no 2018 agreement,

and that the Company is not subject to jurisdiction in the UK.

The oral argument and presentation of evidence on solely the jurisdictional

claim took place on November 9, 2022, with the court taking the matter of jurisdiction over the Company under advisement.

The court has

not yet ruled on the motion to dismiss, and it is not yet known when the court will rule upon that motion.

The Company intends to vigorously

defend against the UK claims and will seek to the full extent possible to enforce its rights under the Declaratory Judgment already obtained

in Utah but there can be no assurances as to the outcome.

time to time, we may become involved in litigation and other proceedings relating to claims arising out of our operations in the normal

course of business and to inquiries from FINRA, NASDAQ and the U.S.

Securities and Exchange Commission (the SEC).

2020, the Company received a voluntary request for documents from the SEC relating to disclosures regarding our COVID-19 test and other

Since that time we and certain of our current and former officers have been cooperating with the SEC and providing documents

and information.

The Company has entered into negotiations with the SEC in an attempt to reach a consensual resolution of the matters

raised in the SEC’s investigation.

Any such resolution may include the imposition of civil penalties, injunctive and other relief

against the Company, senior management and related individuals.

We cannot predict the outcome of these negotiations or of the SEC’s

investigation at this time, however, to the best of our knowledge, we do not believe that the matter is reasonably likely to result in

financial penalties having a material adverse effect on the Company.

The Company intends to vigorously defend against the UK claims and will seek to the full extent possible to enforce

its rights under the Declaratory Judgment already obtained in Utah but there can be no assurances as to the outcome.

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