3 unchanged sentences
On January 20, 2017, K2M, Inc.
−Removed: filed suit against OrthoPediatrics Corp.
−Removed: (the "Company," "we," "our" or "us") in the United States District Court for the District of Delaware (K2M, Inc.
+Added: filed suit against us in the United States District Court for the District of Delaware (K2M, Inc.
OrthoPediatrics Corp.
14 unchanged sentences
Additionally, we have denied these most recent claims and responded with counterclaims seeking declaratory relief that the subject patents are both invalid and not infringed.
−Removed: Moreover, on November 20, 2019, the Court issued a Scheduling Order, which in part, set a trial date for April 12, 2021.
−Removed: Subsequently, the parties attended a second court-ordered mediation on February 25, 2020, which did not resolve the dispute, but we continue to welcome constructive discussions on a negotiated settlement.
−Removed: Although we believe that the K2M lawsuit is without merit and will vigorously defend the claims asserted against us, intellectual property litigation can involve complex factual and legal questions, and an adverse resolution of this proceeding could have a material adverse effect on our business, operating results and financial condition.
+Added: Moreover, on November 20, 2019, the Court issued its Scheduling Order, which in part, set a trial date for April 12, 2021.
+Added: Subsequently, the parties attended a second court-ordered mediation on February 25, 2020, which did not resolve the dispute.
+Added: Throughout 2021, we have continued settlement negotiations regarding this matter and anticipate that it will be settled in the near term.
+Added: Because the Company considers a potential settlement to be probable, it previously accrued for the related expense during the fourth quarter of 2020.
+Added: No material modifications were made to the accrual during the quarter ended March 31, 2021.
+Added: While the Company considers it probable, no assurance can be given that a final settlement will be reached and, were negotiations to cease, we would vigorously defend the claims asserted against us.
IMED Surgical - Software Ownership Dispute
3 unchanged sentences
(“Vilex”) for $60 million in total consideration.
−Removed: Vilex and Orthex are primarily manufacturers of foot and ankle surgical implants, including cannulated screws, fusion devices, surgical staples and bone plates, as well as the Orthex Hexapod technology, a system of rings, struts, implants, hardware accessories, and the Point & Click Software used to treat congenital deformities and limb length discrepancies.
−Removed: On December 31, 2019, the Company divested substantially all of the assets relating to Vilex's adult product offerings to a
−Removed: wholly-owned subsidiary of Squadron, in exchange for a $25 million reduction in a term note owed to Squadron in connection with the initial acquisition.
+Added: Vilex and Orthex are primarily manufacturers of foot and ankle surgical implants, including cannulated screws, fusion devices, surgical staples and bone plates, as well as the Orthex Hexapod technology, a system of rings, struts, implants, hardware accessories, and the Point &
+Added: Click Software used to treat congenital deformities and limb length discrepancies.
+Added: On December 31, 2019, the Company divested substantially all of the assets relating to Vilex's adult product offerings to a wholly-owned subsidiary of Squadron, in exchange for a $25 million reduction in a term note owed to Squadron in connection with the initial acquisition.
As part of the sale, the Company also executed an exclusive license arrangement with Squadron providing for perpetual access to certain intellectual property, including the Point & Click Software.
1 unchanged sentence
The Plaintiff, among other things, requests that the defendants be ordered to convey and assign to Plaintiff all of their rights, title and interests in and to the Software and seeks certain compensatory, consequential and unjust enrichment damages from Orthex and the unrelated defendants.
−Removed: The Company is currently considering this matter, but lacks sufficient information to assess the potential outcome at this time.
+Added: Although we believe the IMED lawsuit is without merit and will vigorously defend the claims asserted us, litigation can involve complex factual and legal questions, and an adverse resolution of this proceeding could have a material adverse effect on our business, operating results and financial condition.
+Added: Barry - Alleged Patent Infringement
+Added: On December 30, 2020, Dr.
+Added: Mark Barry filed suit against us in the United States District Court for the District of Delaware (Barry v.
+Added: OrthoPediatrics Corp.
+Added: et al., Case No.
+Added: 1:20-cv-01786) seeking unspecified damages for alleged infringement of U.S.
+Added: and 9,668,788, which relate to systems and methods concerning derotation of spinal bodies to correct spinal deformities.
+Added: On March 19, 2021, the parties reached a final settlement, which included the Company entering into a license agreement with Dr.
+Added: The license agreement was recorded by the Company in the amount of $2.9 million, which will be amortized over a period of up to 8 years based upon the number of cases utilizing the related spinal deformity system in a given period.
+Added: The balance of the amount otherwise paid to Dr.
+Added: Barry had been previously accrued for during the fourth quarter of 2020 in anticipation of this final settlement.
We are not presently a party to any other legal proceedings the outcome of which, if determined adversely to us, would individually or in the aggregate materially affect our financial position, results of operations or cash flows.
+Added: In addition to the other information set forth in this quarterly report, you should carefully consider the factors discussed in “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on March 11, 2021.
+Added: There have been no material changes to these Risk Factors since the filing of our Annual Report on Form 10-K.
+Added: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: Sale of Unregistered Securities.
+Added: Use of Proceeds.
+Added: Issuer Purchases of Equity Securities.
+Added: DEFAULTS UPON SENIOR SECURITIES
+Added: MINE SAFETY DISCLOSURES
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.