Legal Proceedings.
−Removed: On January 31, 2023, a securities class action lawsuit captioned Brill v.
−Removed: Invivyd, Inc., et.
−Removed: al., Case No.
−Removed: 1:23-CV-10254-LTS, was filed against us and certain of our former officers in the U.S.
−Removed: District Court for the District of Massachusetts.
−Removed: The complaint alleged violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder on the basis of purportedly materially false and misleading statements and omissions concerning ADG20’s effectiveness against the Omicron variant of COVID-19.
−Removed: The complaint sought, among other things, unspecified damages, attorneys’ fees, expert fees, and other costs.
−Removed: The court appointed lead plaintiffs for the action on June 28, 2023.
−Removed: On August 23, 2023, the lead plaintiffs filed an amended complaint that made allegations similar to those in the original complaint and asserted the same claims against the same defendants as the original complaint.
−Removed: On October 19, 2023, the parties filed a joint stipulation to advise the court that the lead plaintiffs intended to seek leave to file a second amended complaint, and on November 22, 2023, the lead plaintiffs filed a second amended complaint that made allegations similar to those in the prior complaints and asserted the same claims against the same defendants as the prior complaints.
−Removed: On January 12, 2024, the defendants filed a motion to dismiss the second amended complaint in its entirety.
−Removed: The lead plaintiffs filed an opposition to the motion to dismiss on February 26, 2024, and the defendants filed a reply in further support of their motion to dismiss on March 27, 2024.
−Removed: The court heard oral arguments on the defendants’ motion to dismiss on May 10, 2024.
−Removed: The court granted the defendants’ motion to dismiss on September 18, 2024, dismissing the second amended complaint in its entirety, with prejudice and without leave to amend.
−Removed: The plaintiffs did not appeal the court’s decision.
−Removed: As such, we have concluded that this matter is closed.
+Added: From time to time, we may become involved in legal proceedings or other litigation relating to claims arising in the ordinary course of business.
+Added: We accrue liability for such matters when it is probable that future expenditures will be made and that such expenditures can be reasonably estimated.
+Added: Significant judgment is required to determine both probability and estimated exposure amount.
+Added: Legal fees and other costs associated with such proceedings are expensed as incurred.
+Added: As of March 31, 2025, we were not a party to any material legal proceedings.
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.