Legal Proceedings
−Removed: On March 17, 2020, Zoho filed a lawsuit in the United States Court for the Northern District of California, as amended as of November 18, 2020, alleging trade secret misappropriation, among other causes of action, against us.
−Removed: The complaint, as amended, sought injunctive relief, damages in an unspecified amount with interest, and attorneys’ fees and costs.
−Removed: In December 2021, we reached an agreement with Zoho to settle the litigation and Zoho dismissed the lawsuit.
−Removed: From time to time, we are involved in various legal proceedings arising from the normal course of business activities.
−Removed: There are no pending or threatened legal proceedings at this time to which we are a party that, in our opinion, is likely to have a material adverse effect on our future financial results of operations.
+Added: On November 1, 2022, a purported Company stockholder filed a securities class action complaint in the U.S.
+Added: District Court for the Northern District of California against us, certain of our current officers and directors, and underwriters of the IPO.
+Added: The complaint alleges that defendants violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 by making material misstatements or omissions in offering documents filed in connection with the IPO.
+Added: The complaint seeks unspecified damages, interest, fees, costs, and rescission on behalf of purchasers and/or acquirers of common stock issued in the IPO.
+Added: We and the other defendants intend to vigorously defend against the claims in this action.
+Added: In addition, from time to time, we are involved in various other legal proceedings arising from the normal course of business activities.
+Added: There are no other pending or threatened legal proceedings at this time to which we are a party that, in our opinion, is likely to have a material adverse effect on our future financial results of operations.
However, the results of litigation and claims are inherently unpredictable and regardless of the outcome, litigation can have an adverse impact on us because of costly defense and settlement expenses, diversion of management and employee resources to defend such claims and other factors.
Mine Safety Disclosures
−Removed: Table of Content s
+Added: Table o f Contents
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.