LEGAL PROCEEDINGS
−Removed: In September 2020, a putative class action complaint alleging violations of the federal securities laws was filed against the Company (also naming our Chief Executive Officer and Chief Financial Officer as defendants) in the U.S.
+Added: In September 2020, a putative class action complaint alleging violations of the federal securities laws was filed against the Company (also naming our Chief Financial Officer and our former Chief Executive Officer as defendants) in the U.S.
District Court for the Northern District of California (Reena Saintjermain, et al.
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The Company filed a motion to dismiss the second amended complaint on October 29, 2021 and, on February 14, 2022, the Court granted defendants’ motion and dismissed the second amended complaint with prejudice.
−Removed: The plaintiff has 30 days following the Court’s entry of judgment to file an appeal.
−Removed: We believe the claims alleged in the complaint lack merit and, should an appeal be filed, we intend to defend this action vigorously.
+Added: On March 15, 2022, the lead plaintiff filed a notice of appeal of the District Court’s decision.
+Added: Following the Circuit Court appellate hearing on February 6, 2023, the Circuit Court granted defendants’ motion to dismiss on February 21, 2023.
In the normal course of business, we are from time to time involved in legal proceedings or potential legal proceedings, including matters involving employment, intellectual property, or others.
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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.