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These matters are subject to many uncertainties and outcomes that are not predictable.
−Removed: On February 1, 2021, a putative class action lawsuit was filed in the United States District Court for the Northern District of California (the “Court”) alleging that we and our former Chief Executive Officer, Kevin M.
−Removed: King, violated Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5 promulgated thereunder.
−Removed: On August 2, 2021, the lead plaintiff filed an amended complaint, and filed a further amended complaint on September 24, 2021.
−Removed: The amended complaint names as defendants, in addition to us and Mr.
−Removed: King, our former Chief Executive Officer, Michael J.
−Removed: Coyle, and former Chief Financial Officer and former Chief Operating Officer, Douglas J.
−Removed: The purported class in the amended complaint includes all persons who purchased or acquired our common stock between August 4, 2020 and July 13, 2021, and seeks unspecified damages purportedly sustained by the class.
−Removed: On October 27, 2021, we filed a motion to dismiss, which the Court granted on March 31, 2022, entering judgment in favor of us and the other defendants.
−Removed: On April 29, 2022, the original named plaintiff appealed to the Ninth Circuit Court of Appeals.
−Removed: On October 11, 2023, after briefing by the parties and oral argument, the Ninth Circuit dismissed the appeal for lack of jurisdiction.
−Removed: The appellant filed a petition for rehearing en banc, which was denied on December 6, 2023.
−Removed: On February 6, 2024, a second putative class action lawsuit was filed in the Court alleging that we and our current Chief Executive Officer, Quentin Blackford, our current Chief Financial Officer, Brice Bobzien, and Mr.
+Added: On February 6, 2024, a putative class action lawsuit was filed in the United States District Court for the Northern District of California alleging that we and our current Chief Executive Officer, Quentin Blackford, our former Chief Financial Officer, Brice Bobzien, and our former Chief Financial Officer and former Chief Operating Officer, Mr.
Devine violated Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5 promulgated thereunder, and seeks unspecified damages purportedly sustained by the class.
−Removed: We believe the above securities class action lawsuits to be without merit and plan to continue to defend ourselves vigorously.
+Added: On July 19, 2024, an amended complaint was filed, naming us, Mr.
+Added: Blackford, Mr.
+Added: Devine, our Chief Commercial Officer Chad Patterson, our former Chief Technology Officer Mark Day, and our Chief Medical Officer, Chief Scientific Officer, and Executive Vice President of Product Innovation Mintu Turakhia as defendants.
+Added: On October 7, 2024, a second amended complaint was filed to include events from the recent FDA inspections, but otherwise included the same claims under the Exchange Act.
+Added: On December 10, 2024, the defendants filed a motion to dismiss.
+Added: Our board members and certain of our current and former executives were named as defendants in two complaints filed as stockholder derivative actions in the United States District Court for the District of Delaware and the United States District Court for the Northern District of California, respectively.
+Added: We are named as a nominal defendant in both complaints.
+Added: The cases make similar allegations to those in the securities class action complaint described above and both cases have both been stayed pending the resolution of motion to dismiss briefing in the securities class action.
+Added: W e believe the above securities class action and derivative lawsuits to be without merit and plan to continue to defend ourselves vigorously.
On March 26, 2021, we received a grand jury subpoena from the U.S.
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On April 4, 2023, we received a Subpoena Duces Tecum from the Consumer Protection Branch, Civil Division of the U.S.
−Removed: Department of Justice, requesting production of various documents regarding our products and services.
+Added: Department of Justice (the “DOJ”), requesting production of various documents regarding our products and services.
We are cooperating fully on these matters.
+Added: On July 1, 2024, the DOJ filed with the United States District Court for the Northern District of California a Petition for Order to Show Cause and Application for Enforcement with respect to the production of certain documentary materials which we assert are protected by legal privileges.
+Added: We defended our privilege assertions over such materials in our response to the DOJ’s petition.
+Added: The matter has been briefed, and oral argument is scheduled for March 6, 2025.
On February 20, 2024, Welch Allyn, Inc.
(“Welch Allyn”), a subsidiary of Hill-Rom Holdings, Inc.
−Removed: which was acquired by Baxter International, Inc., filed a lawsuit against us in the United States District Court for the District of Delaware, alleging that our Zio patches infringe certain of its patents.
+Added: now part of Baxter International, Inc., filed a lawsuit against us in the United States District Court for the District of Delaware, alleging that our Zio devices infringe certain of its patents and that the Company’s infringement was willful.
+Added: We filed a motion to dismiss Welch Allyn’s willful infringement claims on April 11, 2024.
+Added: Welch Allyn filed an amended complaint on April 24, 2024 that continued to allege that our Zio devices infringe certain of its patents and that our infringement was willful.
+Added: We filed a motion to dismiss Welch Allyn’s willful infringement allegations found in the amended complaint on May 22, 2024 and a hearing on the motion to dismiss was held on January 28, 2025.
+Added: After hearing arguments, the Court granted our motion and the willful infringement claims in the amended complaint were dismissed without prejudice.
+Added: Welch Allyn filed a second amended complaint adding additional patent claims on February 14, 2025.
+Added: The Company is preparing to file a response to the allegations found in the second amended complaint no later than March 21, 2025.
Welch Allyn seeks money damages and attorneys’ fees.
We believe this lawsuit is without merit and plan to defend ourselves vigorously.
+Added: On December 10, 2024, Bardy Diagnostics, Inc.
+Added: (“BardyDx”), a subsidiary of Hill-Rom Holdings, Inc.
+Added: now part of Baxter International, Inc., filed a lawsuit against us in the United States District Court for the District of Delaware, alleging that our Zio Monitor patch infringes one of its patents.
+Added: On December 26, 2024, BardyDx filed an amended complaint alleging that the Company's Zio Monitor patch infringes two of its patents.
+Added: We are preparing to file a response to the allegations found in the amended complaint no later than March 3, 2025.
+Added: BardyDx seeks money damages and attorneys’ fees.
+Added: We believe this lawsuit is without merit and plan to defend ourselves vigorously.
At this time, we are unable to predict the eventual scope, duration or outcome of the aforementioned proceedings.
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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.