−Removed: time to time, we may be subject to litigation and arbitration claims incidental to its business.
−Removed: Such claims may not be covered by our
−Removed: insurance coverage, and even if they are, if claims against us are successful, they may exceed the limits of applicable insurance coverage.
−Removed: July 9, 2020, the Company was served with a civil complaint filed in the Superior Court for the State of California, County of Orange
−Removed: by a former employee, Robert Rankin, who resigned his employment on or about March 30, 2020.
−Removed: The case is entitled Rankin v.
−Removed: Hancock Jaffe
−Removed: Laboratories, Inc.
−Removed: et al., Case No.
−Removed: 30-2020-01146555-CU-WR-CJC and was filed on May 27, 2020.
−Removed: The complaint asserts several causes of
−Removed: action, including a cause of action for failure to timely pay Mr.
−Removed: Rankin’s accrued and unused vacation and three months’
−Removed: severance under his July 16, 2018 employment agreement with the Company.
−Removed: Rankin alleges that he was forced to resign, however, we
−Removed: believe that he did not give the Company notice or an opportunity to cure the allegations.
−Removed: The complaint seeks, inter alia, back pay,
−Removed: unpaid wages, compensatory damages, punitive damages, attorneys’ fees, and costs.
−Removed: On September 3, 2020 the Company and its Chief
−Removed: Executive Officer were served with a second complaint filed in the Superior Court for the State of California, County of Orange by Mr.
−Removed: The case is entitled Rankin v.
+Added: Legal Proceedings
+Added: Company and its Chief Executive Officer are parties to civil complaints filed in the Superior Court for the State of California,
+Added: County of Orange by a former employee, Robert Rankin, who resigned as the Company’s Chief Financial Officer, Secretary, and
+Added: Treasurer on March 30, 2020.
+Added: Originally filed as two separate complaints, Rankin v.
Hancock Jaffe Laboratories, Inc.
+Added: 30-2020-01146555-CU-WR-CJC and Rankin v.
+Added: Hancock Jaffe Laboratories, Inc.
et al., Case No.
−Removed: 30-2020-01157857 and was filed on August 31,
−Removed: The complaint asserts several causes of action, including defamation, unlawful labor code violations, sex-based discrimination,
−Removed: unfair competition, and seeks damages for lost wages, emotional and mental distress, consequential damages, punitive damages and attorney’s
−Removed: fees and costs.
−Removed: Rankin resigned as the Company’s Chief Financial Officer, Secretary and Treasurer on March 30, 2020.
−Removed: has denied all claims in both matters (which have now been consolidated) and has filed a counterclaim asserting that Rankin has breached
−Removed: his employment agreement with the Company to the Company’s damage.
−Removed: The Company continues to believe it has meritorious defenses
−Removed: to both matters, which are currently set for trial June 12, 2023.
−Removed: and Safety Disclosure
+Added: 30-2020-01157857, they have now been
+Added: consolidated and will be tried concurrently.
+Added: The complaints assert causes of action alleging constructive discharge
+Added: in violation of public policy, failure to timely pay Mr.
+Added: Rankin’s accrued and unused vacation and three months’ severance
+Added: under his July 16, 2018 employment agreement, retaliation under Labor Code Section 1102.5, unfair competition, defamation, and sex-based
+Added: discrimination, and seeks damages for back pay, lost and unpaid wages, emotional and mental distress, consequential damages, punitive
+Added: damages, compensatory damages and attorney’s fees and costs.
+Added: The Company denies all claims in these matters, is vigorously defending
+Added: same, and has asserted counterclaims against Mr.
+Added: Rankin contending that he breached his fiduciary duty and employment agreement with the
+Added: Company and the Company incurred damages as a result.
+Added: The Company continues to believe it has meritorious defenses to these matters, which
+Added: are currently set for trial on May 13, 2024.
+Added: Mine and Safety Disclosure
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.