LEGAL PROCEEDINGS.
−Removed: From time to time, the Company is a party
−Removed: to or otherwise involved in legal proceedings, claims and other legal matters, arising in the ordinary course of its business or
−Removed: It is management’s opinion that there are no legal proceedings the outcome of which will be material to its ability
−Removed: to operate or market its services, its consolidated financial position, operating results or cash flows.
+Added: Legal Proceedings
+Added: From time to time, we are a party to or
+Added: otherwise involved in legal proceedings, claims and other legal matters, arising in the ordinary course of our business or
+Added: During 2021, Forta had over 20 FINRA arbitrations that were pending.
+Added: The claims arise from the sale to clients of
+Added: alternative investments (REITs, Business Development Loan Funds, and Oil and Gas securities).
+Added: Most of the claims arise from
+Added: investments prior 2015.
+Added: None of the registered representatives that recommended these alternative investments is currently
+Added: associated with Forta.
+Added: Many of the claims have been settled, and most of the remaining claims are in settlement discussions.
+Added: total amount of the currently pending claims may exceed the amount of insurance available.
+Added: Forta no longer generates significant
+Added: revenue from brokerage activity like the sale of alternative investments.
+Added: As part of its annual review of performance of its
+Added: subsidiaries, Company has decided to discontinue Forta’s broker/dealer operations and that transition is now in progress.
MINE SAFETY DISCLOSURES.
1 unchanged sentence
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.