LEGAL PROCEEDINGS
−Removed: VTR Class Action
−Removed: On August 25, 2020, VTR was notified that SERNAC had filed a class action complaint against VTR in the 14th Civil Court of Santiago.
−Removed: The complaint relates to consumer complaints regarding VTR’s broadband service and capacity during the pandemic and raises claims regarding, among other things, VTR’s disclosure of its broadband speeds and aggregate capacity availability and VTR’s response to address the causes of service instability during the pandemic.
−Removed: VTR was also notified in August about two additional class action complaints filed by consumer associations (ODECU and AGRECU) making similar claims and allegations.
−Removed: The class action complaint of ODECU was filed in the 21st Civil Court of Santiago, and the class action complaint of AGRECU was filed in the 26th Civil Court of Santiago.
−Removed: The complaint of SERNAC and ODECU seeks (i) the Court declare that VTR has infringed the rules of the Consumer Protection Law;
−Removed: (ii) the responsibility of VTR for such infractions and, if so, establish the corresponding fines;
−Removed: and (iii) compensatory and punitive damages.
−Removed: In the case of AGRECU, the complaint only seeks compensatory damages.
−Removed: On October 22, 2020, VTR was notified of a fourth class action complaint filed by CONADECUS in the 16 th Civil Court of Santiago alleging that VTR did not adhere to certain call center, technical visit and service level requirements under applicable law.
−Removed: On April 21, 2021, the Court of Appeals of Santiago issued a ruling joining the four class action complaints into one legal procedure.
−Removed: We believe that the allegations contained in the complaints are without merit, in particular as it relates to VTR’s service and response during the pandemic and intend to defend the complaints vigorously.
−Removed: We cannot predict at this point the length of time that these actions will be ongoing.
−Removed: In addition, from time to time, our subsidiaries and affiliates have become involved in litigation relating to claims arising out of their operations in the normal course of business.
+Added: From time to time, our subsidiaries and affiliates have become involved in litigation relating to claims arising out of their operations in the normal course of business.
+Added: While we generally expect that the amounts required to satisfy these contingencies will not materially differ from any estimated amounts we have accrued, no assurance can be given that the resolution of one or more of these contingencies will not result in a material impact on our results of operations, cash flows or financial position in any given period.
For additional information, see note 19 to our consolidated financial statements in Part II of this Annual Report on Form 10-K.
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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.