−Removed: LEGAL PROCEEDINGS
April 2, 2019, we filed a lawsuit against Clarus in the United States District Court for the District of Delaware alleging that Clarus’s
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and 6,923,988 in an effort to streamline the issues and associated costs for dispute.
−Removed: Clarus has answered the complaint and asserted
−Removed: counterclaims of non-infringement and invalidity.
+Added: Clarus answered the complaint and asserted counterclaims
+Added: of non-infringement and invalidity.
We answered Clarus’s counterclaims on April 29, 2019.
−Removed: The Court held a scheduling
−Removed: conference on August 15, 2019, a claim construction hearing on February 11, 2020 and a summary judgment hearing on January 15, 2021.
−Removed: In May 2021, the Court granted Clarus’ motion for Summary Judgment, finding the asserted claims of Lipocine’s U.S.
+Added: The Court held a scheduling conference
+Added: on August 15, 2019, a claim construction hearing on February 11, 2020 and a summary judgment hearing on January 15, 2021.
+Added: the Court granted Clarus’ motion for Summary Judgment, finding the asserted claims of Lipocine’s U.S.
+Added: patents 9,034,858;
and 9,757,390 invalid for failure to satisfy the written description requirement of 35 U.S.C.
−Removed: Clarus still had remaining claims before the Court.
−Removed: On July 13, 2021, Clarus and Lipocine entered into a global settlement agreement
−Removed: (“Global Agreement”) which resolved all outstanding claims of this litigation as well as the on-going United States Patent
−Removed: and Trademark Office (“USPTO”) Interference No.
+Added: still had remaining claims before the Court.
+Added: On July 13, 2021, we entered into the Global Agreement with Clarus which resolved all outstanding
+Added: claims of this litigation as well as the on-going United States Patent and Trademark Office (“USPTO”) Interference No.
between the parties.
−Removed: Under the terms of the Global Agreement, Lipocine
−Removed: agreed to pay Clarus $4.0 million payable as follows:
−Removed: $2.5 million immediately, $1.0 million on July 13, 2022 and $500,000 on July 13,
+Added: Under the terms of the Global Agreement, Lipocine agreed to pay Clarus $4.0 million payable as follows:
+Added: immediately, $1.0 million on July 13, 2022 and $500,000 on July 13, 2023.
No future royalties are owing from either party.
−Removed: On July 15, 2021, the Court dismissed with prejudice Lipocine’s claims and
−Removed: Clarus’ counterclaims.
+Added: 2021, the Court dismissed with prejudice Lipocine’s claims and Clarus’ counterclaims.
November 14, 2019, we and certain of our officers were named as defendants in a purported shareholder class action lawsuit, Solomon
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dismiss on October 22, 2020.
−Removed: We intend to vigorously defend ourselves against these allegations and have not recorded a liability related
−Removed: to this shareholder class action lawsuit as the outcome is not probable nor can an estimate be made of loss, if any.
+Added: A hearing on the motion to dismiss has been scheduled for January 12, 2022.
+Added: We intend to vigorously defend
+Added: ourselves against these allegations and have not recorded a liability related to this shareholder class action lawsuit as the outcome
+Added: is not probable nor can an estimate be made of loss, if any.
March 13, 2020, we filed U.S.
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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.