Our principal office is approximately 22,557 square feet of office, warehouse and assembly space in Rockaway, New Jersey pursuant to a lease that expires in 2034 .
−Removed: Since the spring of 2020 , most of our employees have conducted business remotely.
+Added: Since the spring of 2020 , many of our employees have conducted business remotely.
Management believes our facilities in Rockaway are currently suitable for their intended use.
We may in the future add new facilities or expand or relinquish existing facilities as our needs evolve, and we believe that should the need arise, suitable additional or substitute space will be available as needed to accommodate any expansion of our operations.
+Added: On February 6, 2024, the Company entered into an amendment to the lease agreement (the"Rockaway Amendment") to extend its Rockaway, New Jersey lease for an additional 10 years .
+Added: The Rockaway Amendment was effective May 1, 2024 , and expires on July 31, 2034 , with a tenant option to renew for an additional five years .
+Added: The increase in the term of the lease for the existing leased property was accounted for as a lease modification, and therefore, the associated operating lease right of use assets and operating lease liabilities for the existing space were remeasured as of February 6, 2024.
+Added: The Rockaway Amendment also includes the expansion of leased property from 13,643 square feet to 22,557 square feet.
Legal Proceeding s
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The principal brief of appellant and appendix were filed on January 5, 2024.
−Removed: The appellees’ brief was filed on February 15, 2024, and appellant’s reply brief is due on or before March 15, 2024.
−Removed: Argument of the motion has not yet been scheduled.
+Added: The appellees’ brief was filed on February 15, 2024, and the appellant’s reply brief was filed on March 15, 2024.
+Added: On December 5, 2024, the Third Circuit issued an opinion affirming Judge Quraishi's August 24, 2024 dismissal of the case and entered Judgment to that effect.
+Added: The Plaintiffs did not move for rehearing, and the mandate of the Court of Appeals has issued.
+Added: The plaintiffs did not pursue any further appeal and the time to do has now expired.
On March 4, 2021, purported stockholder Richard Maltz brought a purported stockholder derivative action in the United States District Court for the District of New Jersey.
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declaratory relief;
−Removed: and an order requiring changes to corporate governance and internal procedures and a vote on proposed amendments to the Bylaws and Certificate of Incorporation.
+Added: and an order requiring changes to corporate governance and internal procedures and a vote on proposed amendments to our Bylaws and Certificate of Incorporation.
O n March 8, 2021, purported stockholder Erin Yuson brought a purported stockholder derivative action in the United States District Court for the District of New Jersey.
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declaratory relief;
−Removed: and an order requiring changes to corporate governance and internal procedures and a vote on proposed amendments to the Bylaws and Certificate of Incorporation.
+Added: and an order requiring changes to corporate governance and internal procedures and a vote on proposed amendments to our Bylaws and Certificate of Incorporation.
The plaintiffs in the Maltz and Yuson derivative actions agreed to consolidate and stay those actions.
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On June 9, 2023, the cases were administratively dismissed without prejudice.
−Removed: We intend to continue to vigorously defend itself in these matters.
+Added: The Company has and intends to the extent necessary to continue to vigorously defend itself if these matters are revived.
However, in light of, among other things, the preliminary stage of these litigation matters, the Company is unable to determine the reasonable probability of loss or a range of potential loss.
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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.