Legal Proceedings
−Removed: time to time we may be subject to litigation and arbitration claims incidental to the Company’s business.
−Removed: Such claims may not be
−Removed: covered by our insurance coverage, and even if they are, if claims against us are successful, they may exceed the limits of applicable
−Removed: insurance coverage.
−Removed: Company and its Chief Executive Officer are parties to civil complaints filed in the Superior Court for the State of California, County
−Removed: of Orange by a former employee, Robert Rankin, who resigned as the Company’s Chief Financial Officer, Secretary, and Treasurer
−Removed: on March 30, 2020.
−Removed: Originally filed as two separate complaints, Rankin v.
−Removed: Hancock Jaffe Laboratories, Inc.
−Removed: et al., Case No.
−Removed: 30-2020-01146555-CU-WR-CJC
−Removed: and Rankin v.
−Removed: Hancock Jaffe Laboratories, Inc.
−Removed: et al., Case No.
−Removed: 30-2020-01157857, they have now been consolidated and will be tried concurrently.
−Removed: complaints assert causes of action alleging constructive discharge in violation of public policy, failure to timely pay Mr.
−Removed: accrued and unused vacation and three months’ severance under his July 16, 2018 employment agreement, retaliation under Labor Code
−Removed: Section 1102.5, unfair competition, defamation, and sex-based discrimination, and seeks damages for back pay, lost and unpaid wages,
−Removed: emotional and mental distress, consequential damages, punitive damages, compensatory damages and attorney’s fees and costs.
−Removed: Company denies all claims in these matters, is vigorously defending same, and has asserted counterclaims against Mr.
−Removed: Rankin contending
−Removed: 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 these matters, which are currently set for trial on August 12, 2024.
+Added: time to time we may be subject to litigation and arbitration claims incidental to its business.
+Added: Such claims may not be covered by our
+Added: insurance coverage, and even if they are, if claims against us are successful, they may exceed the limits of applicable insurance coverage.
+Added: The Company was party to litigation with former employee, Robert Rankin, who resigned on March 30, 2020.
+Added: was resolved on October 21, 2024 and all complaints and cross complaints were dismissed with prejudice.
a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required
5 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.