LEGAL PROCEEDINGS
−Removed: A lawsuit was filed on December 17, 2015 by SRAM Corporation (“SRAM”) in the U.S.
−Removed: District Court, Northern District of Illinois, against the Company’s wholly-owned subsidiary, RFE Canada Holding Corp.
−Removed: (“RFE Canada”).
−Removed: The lawsuit alleges patent infringement of U.S.
−Removed: Patent number 9,182,027 ("027 Patent") and violation of the Lanham Act.
−Removed: SRAM filed a second lawsuit in the same court against RFE Canada on May 16, 2016, alleging patent infringement of U.S Patent number 9,291,250 ("250 Patent").
−Removed: The Company believes that the lawsuits are without merit and intends to vigorously defend itself.
−Removed: As such, the Company has filed, before the U.
−Removed: Patent and Trademark Appeals Board ("PTAB"), for Interparties Reviews ("IPR") of the 027 Patent and separately the same for the 250 Patent.
−Removed: In February 2021, the PTAB issued opinions in the 027 Patent petition cases stating that the Company has shown all of the claims of the 027 Patent to be obvious.
−Removed: The PTAB has also issued an opinion in the 250 Patent case stating that the Company has not shown the claims of the 250 Patent to be obvious.
−Removed: In a separate action, the Company filed a lawsuit on January 29, 2016 in the U.S.
−Removed: District Court, Northern District of California against SRAM.
−Removed: That lawsuit alleges SRAM’s infringement of two separate Company-owned patents, specifically U.S.
−Removed: Patent numbers 6,135,434 and 6,557,674.
−Removed: The Company filed a second lawsuit on July 1, 2016 in the U.S.
−Removed: District Court, Northern District of California against SRAM alleging infringement of the Company’s U.S.
−Removed: Patent numbers 8,226,172 and 8,974,009.
−Removed: These lawsuits have been moved to U.S.
−Removed: District Court, District of Colorado and are otherwise proceeding.
−Removed: District Court, Northern District of Illinois has, in view of the 027 Patent PTAB process and opinion, stayed the SRAM lawsuits against the Company.
−Removed: Due to the inherent uncertainties of litigation, the Company is not able to predict either the outcomes or a range of reasonably possible losses, if any, at this time.
−Removed: Accordingly, no amounts have been recorded in the condensed consolidated financial statements for the settlement of these matters.
−Removed: Were an unfavorable ruling to occur, or if factors indicate that a loss is probable and reasonably estimable, the Company's business, financial condition or results of operations could be materially and adversely affected.
−Removed: The Company is involved in other legal matters that arise in the ordinary course of business.
−Removed: Based on information currently available, management does not believe that the ultimate resolution of these matters will have a material adverse effect on the Company's financial condition, results of operations or cash flows.
+Added: From time to time, the Company is involved in legal proceedings that arise in the ordinary course of business.
+Added: Although the Company cannot assure the outcome of any such legal proceedings, based on information currently available, management does not believe that the ultimate resolution of any pending matters will have a material adverse effect on the Company's financial condition, results of operations or cash flows.
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.