3 unchanged sentences
In addition, the Company is not aware of any threatened litigation, unasserted claims or assessments that could have a material adverse effect on its business, operating results or financial condition.
−Removed: On March 12, 2021, a purported class action was filed against the Company in the United States District Court for the Eastern District of North Carolina, Joseph McAlear, individually and on behalf of all others similarly situated v.
−Removed: Live Oak Bancshares, Inc.
−Removed: The complaint alleged the existence of an agreement between the Company, nCino, Inc.
−Removed: and Apiture, LLC in which those companies purportedly sought to restrain the mobility of employees in violation of antitrust laws by agreeing not to solicit or hire each other’s employees.
−Removed: The complaint alleged violations of Section 1 of the federal Sherman Act (15 U.S.C.
−Removed: § 1) and violations of Sections 75-1 and 75-2 of the North Carolina General Statutes.
−Removed: The plaintiff sought monetary damages, including treble damages, entitlement to restitution, disgorgement, attorneys’ fees, and pre- and post-judgment interest.
−Removed: On October 12, 2021, the Company reached an agreement to settle the case with a proposed class of all persons (with certain exclusions) employed by the Company or its wholly-owned subsidiary, Live Oak Banking Company, Apiture, Inc.
−Removed: or nCino, Inc.
−Removed: in North Carolina at any time from January 27, 2017, through March 31, 2021.
−Removed: In the agreement, the Company agreed to pay $3.9 million.
−Removed: On October 13, 2021, the plaintiff filed a motion for preliminary approval of the settlement, which the court granted by order entered on November 23, 2021.
−Removed: After class-wide noticing, the plaintiff filed a motion for final approval on March 28, 2022, which the court granted by order entered on April 28, 2022.
−Removed: Pursuant to the terms of the settlement, the settlement became effective on June 11, 2022.
MINE SAFETY DISCLOSURES
1 unchanged sentence
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.