What changed in this filing

/stocks — the workspaceLOADING

Item 3. Legal Proceedings

2022-02-24 compared with 2021-02-18 · 19 added, 37 removed, 2 unchanged (97% of the section changed)

LEGAL PROCEEDINGS

Occasionally the Company is involved in various claims, lawsuits, regulatory examinations, investigations and other legal matters arising, for the most part, in the ordinary course

The outcome of litigation and other legal matters is inherently uncertain.

In making a determination regarding accruals, using available information, the Company evaluates the likelihood of an unfavorable outcome in legal or regulatory

proceedings to which the Company is a party and records a loss contingency when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated.

Where the Company determines an unfavorable outcome is not probable or reasonably estimable, the Company does not accrue for any potential litigation loss.

These subjective determinations are based on

the status of such legal or regulatory proceedings, the merits of our defenses and consultation with legal counsel.

Actual outcomes of these legal and regulatory proceedings may materially differ from the Company’s current estimates.

It is possible

that resolution of one or more of the legal matters currently pending or threatened could result in losses material to the Company’s consolidated results of operations, liquidity, or financial condition.

As previously disclosed, between September 2016 and January 2017, eight putative class actions on behalf of alleged shareholders that purchased or acquired the Company’s ordinary shares pursuant

and/or traceable to its registration statement on Form F-1 (File No.

333-197344) used in connection with the Company’s initial public offering (the “IPO”) were commenced in the following courts:

(i) the Superior Court of the State of California,

County of San Mateo;

(ii) the Superior Court of the Commonwealth of Massachusetts, Suffolk County;

(iii) the United States District Court for the Northern District of California;

and (iv) the United States District Court for the District of

Massachusetts.

The actions involved claims under various sections of the Securities Act and the Exchange Act against the Company, certain of its current and former directors and officers, the underwriters of the Company’s IPO and certain other

The four actions commenced in the Superior Court of the State of California, County of San Mateo were dismissed in January 2017 for lack of personal jurisdiction, and the action commenced in the United States District Court for the

Northern District of California was voluntarily dismissed in March 2017.

Additionally, the two actions commenced in the Superior Court of the Commonwealth of Massachusetts, Suffolk County (the “Superior Court”) were consolidated in December 2017,

and voluntarily dismissed with prejudice in November 2018, after the District Court for the District of Massachusetts partially dismissed the related claims in that court and the parties in the Superior Court entered a stipulation of dismissal with

The action commenced in the United States District Court for the District of Massachusetts (the “District Court”), alleging violations of Sections 11 and 15 of the Securities Act and Sections 10(b) and

20(a) of the Exchange Act, was partially dismissed in August 2018.

In particular, the District Court granted the motion to dismiss the claims under Sections 11 and 15 of the Securities Act, finding that the plaintiff failed to plead a false or

misleading statement in the IPO registration statement.

In May 2019, the court subsequently denied the plaintiff’s motion to amend to pursue Exchange Act claims and the complaint was dismissed.

Thereafter, the plaintiff timely appealed to the United

States Court of Appeals for the First Circuit, which subsequently affirmed the dismissal and the denial of the plaintiff’s motion to amend in August 2020.

The plaintiff did not file a petition for certiorari for appeal of the case to the Supreme

Court of the United States by the deadline on November 24, 2020.

Thus, as of December 31, 2020, all eight actions had been dismissed, with such judgments being final and non-appealable.

For more information, see Note 2t and Note 7e to the Company’s consolidated financial statements set forth in “Part II, Item 8.

Financial Statements and Supplementary Data” of this annual report.

MINE SAFETY DISCLOSURES .

Occasionally we are involved in various claims, lawsuits, regulatory

examinations, investigations and other legal matters arising, for the most part, in the ordinary course of business.

The outcome of litigation

and other legal matters is inherently uncertain.

In making a determination regarding accruals, using available information, the Company

evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which we are a party and records a loss contingency

when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated.

Where we determine an unfavorable outcome is not probable or reasonably

estimable, we do not accrue for any potential litigation loss.

These subjective determinations are based on the status of such legal or

regulatory proceedings, the merits of our defenses and consultation with legal counsel.

Actual outcomes of these legal and regulatory

proceedings may materially differ from our current estimates.

It is possible that resolution of one or more of the legal matters currently

pending or threatened could result in losses material to our consolidated results of operations, liquidity, or financial condition.

For information regarding legal proceedings, see Note 7 “Commitments

and Contingent Liabilities” in the notes to our audited consolidated financial statements included in this annual report, which

discussion we incorporate by reference into this Item.

SAFETY 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.

What changed 10-K

Item 3. Legal Proceedings