What changed 10-Q

Item 1. Legal Proceedings

2020-11-06 compared with 2020-08-06 · 1 added, 1 removed, 4 unchanged (33% of the section changed)

2 unchanged sentences

We accrue for losses related to litigation when a potential loss is probable and the loss can be reasonably estimated in accordance with FASB requirements.

During the reported period, we were not a party to any material legal proceedings, thus no loss was probable and no amount was accrued at June 30, 2020.

During the reported period, we were not a party to any material legal proceedings, thus no loss was probable and no amount was accrued at September 30, 2020.

On May 6, 2020, we initiated an arbitration proceeding with the Hong Kong International Arbitration Center against SMIC New Technology Research & Development (Shanghai) Corporation (“SMIC”) due to SMIC’s failure to pay fees due to PDF under a series of contracts. We seek to recover the unpaid fees, a declaration requiring SMIC to pay fees under the contracts in the future, and costs associated with bringing the arbitration proceeding.

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.