LEGAL PROCEEDINGS
−Removed: August 21, 2020, IPS was named a third-party defendant in a patent dispute claim currently pending in the U.S.
−Removed: District Court for the
−Removed: Eastern District of New York.
−Removed: The complaint, which contains no specific amount of claimed monetary damages, asserts that certain intellectual
−Removed: property was misappropriated by IPS and one of its former employees.
−Removed: IPS denies the allegations, believes the action is without merit
−Removed: and intends to vigorously defend it.
−Removed: The Company filed a motion to dismiss the complaint on December 14, 2020.
−Removed: The court has not
−Removed: yet ruled on the Company’s motion.
−Removed: time to time, the Company may become a party to other legal actions or proceedings in the ordinary course of its business.
−Removed: 2021, there were no such actions or proceedings, either individually or in the aggregate, that, if decided adversely to the Company’s
−Removed: interests, it believes would be material to its business.
+Added: As previously disclosed,
+Added: on August 21, 2020, IPS was named a third-party defendant in a patent dispute claim in the U.S.
+Added: District Court for the Eastern District
+Added: The complaint, which contains no specific amount of monetary damages, asserts that certain intellectual property was misappropriated
+Added: by IPS and one of its former employees.
+Added: In October 2021, the Court ruled that the misappropriation claim was invalid.
+Added: The remaining
+Added: allegation was that IPS breached a non-disclosure agreement with a party to the case.
+Added: In January 2022, all claims in this matter were
+Added: dismissed without prejudice.
+Added: From time to time, the Company
+Added: may become a party to other legal actions or proceedings in the ordinary course of its business.
+Added: At December 31, 2021, there were no such
+Added: actions or proceedings, either individually or in the aggregate, that, if decided adversely to the Company’s interests, the Company
+Added: believes would be material to its operation or cash flow.
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.