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revenue management systems and sharing sensitive data.
−Removed: While we intend to vigorously defend against this lawsuit, given the current stage of the District of Columbia’s lawsuit, we are unable to predict the outcome or estimate the amount of loss, if any, that may result from the lawsuit.
+Added: The District of Columbia is seeking monetary damages, equitable relief, attorneys’ fees, interest, and costs.
+Added: While we intend to vigorously defend against this lawsuit, given the current stage
+Added: of the District of Columbia’s lawsuit, we are unable to predict the outcome or estimate the amount of loss, if any, that may result from the lawsuit.
While we do not believe that these proceedings will have a material adverse effect on our financial condition, we cannot give assurance that the proceedings will not have a material effect on our results of operations or cash flows in the event of a negative outcome.
+Added: We, along with multiple other parties, are named defendants in a lawsuit arising out of a condominium development project known as Wardman Tower in Washington, D.C.
+Added: The lawsuit was filed by the Wardman Tower Residential Condominium Unit Owners Association in the Superior Court of the District of Columbia on November 25, 2020.
+Added: The lawsuit seeks damages resulting primarily from alleged construction and design deficiencies, alleged misrepresentations and claims alleged under the D.C.
+Added: The lawsuit seeks $185.0 million in compensatory damages, plus treble damages related to the CPPA claims, and attorney’s fees and costs.
+Added: The lawsuit has been scheduled for a bench trial, which is currently set to begin on November 10, 2025.
+Added: The Wardman Tower project was designed and constructed by other parties and achieved substantial completion prior to our formation.
+Added: We were not involved in any way with the project but one of our subsidiary entities, that is not a defendant in the litigation, served as the fee developer for the project owner.
+Added: We deny liability for the claims asserted and will vigorously defend ourselves against the claims alleged in the litigation.
+Added: However, no assurance can be given that the matter will be resolved favorably.
There are various other legal actions arising in the ordinary course of business.
In our opinion, the outcome of such matters is not expected to have a material adverse effect on our financial position, results of operations or cash flows.
−Removed: Our accrual for loss contingencies relating to unresolved legal matters was included in " Other liabilities, net" in the consolidated balance sheets.
+Added: Our accrual for loss contingencies relating to unresolved legal matters was included in "Other liabilities, net" in our balance sheets.
Actual losses may differ materially from amounts recorded and the ultimate outcome of these legal proceedings is generally not yet determinable.
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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.