2 unchanged sentences
We are directly or indirectly involved from time to time and may be named in various other claims or legal proceedings arising in the ordinary course of our business or otherwise.
−Removed: On June 21, 2017, Well Thrive Ltd.
−Removed: (“Well Thrive”) filed a complaint against SemiLEDs Corporation (“the Company”) in the United States District Court for the District of Delaware.
−Removed: The complaint alleged that Well Thrive was entitled to return of $500 thousand paid toward a note purchase pursuant to a purchase agreement (the “Purchase Agreement”) effective July 6, 2016 with Dr.
−Removed: Peter Chiou, which was assigned to Well Thrive on August 4, 2016.
−Removed: Pursuant to the terms of the Purchase Agreement, we retained the $500 thousand payment as liquidated damages.
−Removed: Well Thrive alleged that the liquidated damages provision was unenforceable as an illegal penalty and did not reflect the amount of purported damages.
−Removed: On March 13, 2018, we filed a motion to enforce a settlement agreement between the parties to dismiss the lawsuit with prejudice.
−Removed: On March 27, 2018, Well Thrive filed an answering brief in opposition to our motion on the basis that Well Thrive never consented to dismiss the case.
−Removed: On January 2, 2019, the judge denied without prejudice the motion filed by us, because there remains some question as to whether Well Thrive’s former lawyers and Dr.
−Removed: Chiou had authority from Well Thrive to settle this case.
−Removed: The Court held a trial on March 2, 2020.
−Removed: After the trial, the judge ordered both sides to prepare post-trial briefs and proposed findings of fact for the Court to be submitted before end of April 2020.
−Removed: Both sides submitted post-trial briefs and proposed findings of fact on April 30, 2020.
−Removed: On December 21, 2020, the judge, following a hearing , issued her judgment, which ordered the Company to return the $500 thousand to Well Thrive, and required both parties, on or before January 6, 2021, to submit information on the appropriate amount of interest to be added.
−Removed: On January 6, 2021, the Company filed a brief arguing that there should not be an award of prejudgment interest and Well Thrive was arguing for the amount of $135,774 in pre-judgement interest.
−Removed: On April 8, 2021, the judge issued a ruling requiring the Company to pay pre-judgment interest in the amount of $123,000 to Well Thrive.
−Removed: On May 7, 2021, the Court of Appeal issued an order requiring the parties to mediate on June 28, 2021.
−Removed: The Company and Well Thrive Ltd.
−Removed: entered into an Agreement Regarding Satisfaction of Judgment dated June 14, 2021, as amended on June 16, 2021 and June 21, 2021 (collectively, the “Settlement Agreement”), pursuant to which the Company issued 35,365 shares (the “Shares”) of its common stock to Well Thrive Ltd.
−Removed: The Shares were issued to satisfy the amount payable under the Settlement Agreement and, accordingly, no cash proceeds were received by the Company from the issuance of the Shares.
−Removed: Except as described above, there was no material pending legal proceedings or claims as of August 31, 2021.
−Removed: Mine Safety Disclosures
+Added: There was no material pending legal proceedings or claims as of August 31, 2022.
+Added: Mine Saf ety Disclosures
Not applicable.
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.