Legal Proceedings
−Removed: time to time we may be subject to litigation and arbitration claims incidental to its business.
+Added: time to time we may be subject to litigation and arbitration claims incidental to the Company’s business.
Such claims may not be covered by our
insurance coverage, and even if they are, if claims against us are successful, they may exceed the limits of applicable insurance coverage.
−Removed: On July 9, 2020, the Company was
−Removed: served with a civil complaint filed in the Superior Court for the State of California, County of Orange by a former employee, Robert Rankin,
−Removed: who resigned as the Company’s Chief Financial Officer, Secretary, and Treasurer on March 30, 2020.
−Removed: The case is entitled Rankin v.
+Added: Company and its Chief Executive Officer are parties to civil complaints filed in the Superior Court for the State of California, County
+Added: of Orange by a former employee, Robert Rankin, who resigned as the Company’s Chief Financial Officer, Secretary, and Treasurer
+Added: on March 30, 2020.
+Added: Originally filed as two separate complaints, Rankin v.
Hancock Jaffe Laboratories, Inc.
et al., Case No.
−Removed: 30-2020-01146555-CU-WR-CJC and was filed on May 27, 2020.
−Removed: The complaint asserts causes
−Removed: of action alleging failure to timely pay Mr.
−Removed: Rankin’s accrued and unused vacation and three months’ severance under his July
−Removed: 16, 2018 employment agreement, Labor Code violations, and unfair competition, and seeks damages for back pay, unpaid wages, compensatory
−Removed: damages, punitive damages, and attorney’s fees and costs.
−Removed: On September 3, 2020 the Company
−Removed: and its Chief Executive Officer were served with a second complaint filed in the Superior Court for the State of California, County of
−Removed: Orange by Mr.
−Removed: The case is entitled Rankin v.
+Added: 30-2020-01146555-CU-WR-CJC
+Added: and Rankin v.
Hancock Jaffe Laboratories, Inc.
et al., Case No.
−Removed: 30-2020-01157857 and was filed
−Removed: on August 31, 2020.
−Removed: The second complaint asserts causes of action alleging defamation, Labor Code violations, sex-based discrimination,
−Removed: and unfair competition, and seeks damages for lost wages, emotional and mental distress, consequential damages, punitive damages, and
−Removed: attorney’s fees and costs.
−Removed: The Company denies all claims
−Removed: in both matters (which have now been consolidated), is vigorously defending same, and has asserted counterclaims against Mr.
+Added: 30-2020-01157857, they have now been consolidated and will be tried concurrently.
+Added: complaints assert causes of action alleging constructive discharge in violation of public policy, failure to timely pay Mr.
+Added: accrued and unused vacation and three months’ severance under his July 16, 2018 employment agreement, retaliation under Labor Code
+Added: Section 1102.5, unfair competition, defamation, and sex-based discrimination, and seeks damages for back pay, lost and unpaid wages,
+Added: emotional and mental distress, consequential damages, punitive damages, compensatory damages and attorney’s fees and costs.
+Added: Company denies all claims in these matters, is vigorously defending same, and has asserted counterclaims against Mr.
Rankin contending
that he breached his fiduciary duty and employment agreement with the Company and the Company incurred damages as a result.
−Removed: continues to believe it has meritorious defenses to both matters, which are currently set for trial on October 30, 2023.
+Added: continues to believe it has meritorious defenses to these matters, which are currently set for trial on July 22, 2024.
a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required
by this Item.
−Removed: Our current risk factors are set forth in our Form 10-K, filed with the SEC on March 2, 2023.
+Added: Our current risk factors are set forth in our Form 10-K, filed with the SEC on February 29, 2024.
Unregistered Sales of Equity Securities and Use of Proceeds
2 unchanged sentences
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.