Item 1. Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
We are subject to various outstanding claims and other legal proceedings that may arise in the ordinary course of business. In the opinion of management, any liability that may arise out of or with respect to these matters will not materially adversely affect our financial position, results of operations or cash flows.
On July 22, 2025, the former lessor of our now-terminated lease of our headquarters and audio operations in Santa Monica, California, commenced litigation against us in Los Angeles County Superior Court. The landlord alleges we breached our lease and seeks at least $31,450,000 in damages. We intend to respond in accordance with court requirements, including timing deadlines.
ITEM 1A. RI SK FACTORS
None.
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