LEGAL PROCEEDINGS
−Removed: From time to time, the Company is involved in legal proceedings that arise in the ordinary course of business.
−Removed: 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, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.
+Added: On February 20, 2024, a complaint alleging violations of federal securities laws and seeking certification as a class action was filed against the Company and certain of its current and former officers in the United States District Court for the Northern District of Georgia in Atlanta.
+Added: The complaint purports to seek damages on behalf of a putative class of persons who purchased the Company’s common stock between May 6, 2021 and November 2, 2023.
+Added: The complaint asserts claims under Sections 10(b) and 20 of the Securities Exchange Act and alleges that the Company made material misstatements and omissions to investors regarding demand for the Company’s products and inventory levels.
+Added: The complaint generally seeks money damages, interest, attorneys’ fees, and other costs.
+Added: The Company denies all allegations of wrongdoing, believes the plaintiffs' positions are without merit, and intends to vigorously defend itself.
+Added: The defendants have not yet had the opportunity to respond to the complaint, as plaintiff is currently seeking, under applicable law, the court’s appointment of him as lead plaintiff and appointment of his counsel as lead counsel.
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.