Legal Proceedings
−Removed: than ongoing litigation with FFS relating to a breach of contract in connection with the Acquired Merchant Portfolio, there are no material
−Removed: claims, actions, suits, proceedings, or investigations that are currently pending or, to the Company’s knowledge, threatened by
−Removed: or against the Company or respecting its operations or assets, or by or against any of the Company’s officers, directors, or affiliates.
+Added: The Company is engaged ongoing litigation with
+Added: FFS relating to a breach of contract in connection with the Acquired Merchant Portfolio whereby the Company is making a claim to recover
+Added: the purchase price of the Acquired Merchant Portfolio and FFS is claiming to be paid the full purchase price of the Acquired Merchant
+Added: In addition, in connection with the litigation with FFS, the Company has also made a claim against Clear Fork Bank (the “Bank”),
+Added: the payment processing bank for the Acquired Merchant Portfolio, for damages the Company suffered as a result of it having to cease processing
+Added: transactions for the merchants underlying the Acquired Merchant Portfolio.
+Added: The Bank has filed a counterclaim for fees incurred by it in
+Added: connection with the transactions processed since the acquisition of the Acquired Merchant Portfolio by the Company.
+Added: However, the damages
+Added: claimed have been materially reduced over time due to account balancing which was not completed at the time of the counterclaim.
+Added: Other than discussed above, there are no
+Added: material claims, actions, suits, proceedings, or investigations that are currently pending or, to the Company’s knowledge, threatened
+Added: by or against the Company or respecting its operations or assets, or by or against any of the Company’s officers, directors, or
Mine Safety Disclosures
+Added: Not applicable.
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.