What changed in this filing

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Item 1. Legal Proceedings

2022-06-09 compared with 2021-12-06 · 34 added, 4 removed, 2 unchanged (95% of the section changed)

LEGAL PROCEEDINGS

From time to time, we may be subject to legal proceedings and claims, including intellectual property, commercial, employment and employee benefits claims, that arise in the ordinary course of business.

We are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, results of operations, financial condition or cash flows.

We have received, and may in the future continue to receive, claims, including claims from third parties asserting, among other things, infringement of their intellectual property rights, claims concerning employment and employee-related matters, and other various claims and controversies.

Future litigation may be necessary to defend ourselves, our partners and our customers by determining the scope, enforceability and validity of claims, including any claims related to third-party proprietary rights, to establish our proprietary rights, or to respond to claims generally.

From time to time, we may be subject to legal proceedings and claims in the ordinary course of business.

We have received, and may in the future continue to receive claims from third parties asserting, among other things, infringement of their intellectual property rights.

Future litigation may be necessary to defend ourselves, our partners and our customers by determining the scope, enforceability and validity of third-party proprietary rights, or to establish our proprietary rights.

The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

DocuSign, Inc.

Securities Litigation and Related Derivative Litigation

On February 8, 2022, a putative securities class action was filed in the U.S.

District Court for the Northern District of California, captioned Weston v.

DocuSign, Inc., et al., Case No.

3:22-cv-00824, naming DocuSign and certain of our current and former officers as defendants.

The complaint purports to allege claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about our business and prospects during the course of the COVID-19 pandemic.

The suit is purportedly brought on behalf of purchasers of our securities between June 4, 2020 and December 2, 2021.

We are not yet required to respond to the complaint, but believe it is devoid of merit.

An earlier action alleging similar claims against the same defendants, captioned Collins v.

DocuSign, Inc., et al., Case No.

3:22-cv-00851, filed in the Eastern District of New York and subsequently transferred to the Northern District of California, was voluntarily dismissed on February 14, 2022.

Three putative shareholder derivative cases have been filed containing allegations based on or similar to those in the securities class action.

The cases were filed on May 17, 2022, in the U.S.

District Court for the District of Delaware, captioned Potteti v.

Springer, et al., Case No.

1:22-cv-00652;

on May 19, 2022 in the U.S.

District Court for the Northern District of California, captioned Lapin v.

Springer, et al., Case No.

3:22-cv-02980;

and on May 20, 2022, also in the U.S.

District Court for the Northern District of California, captioned Votto v.

Springer, et al., Case No.

3:22-cv-02987.

Each case is allegedly brought on the Company’s behalf.

The suits name the Company as a nominal defendant and, depending on the particular case, the members of our board of directors or, in certain instances, current or former officers, as defendants.

While the complaints vary, they are based largely on the same allegations as the securities class action suit described above, including allegations relating to our disclosures between June 4, 2020 and December 2, 2021 as well as, in certain instances, alleged insider trading.

Collectively, these lawsuits purport to assert claims for, among other things, breach of fiduciary duty, aiding and abetting such breach, corporate waste, unjust enrichment, and under Sections 10(b) and 21D of the Securities Exchange Act of 1934.

The Complaints seek to recover unspecified damages and other relief on the Company’s behalf.

We are not yet required to respond to any of these derivative suits.

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-Q

Item 1. Legal Proceedings