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time to time, we may become involved in lawsuits, investigations and claims that arise in the ordinary course of business.
−Removed: On June 15, 2023, Terrence and Kay Mimick (the “Plaintiffs”)
−Removed: filed a complaint in the U.S.
−Removed: District Court, District of Nebraska naming the Company, its wholly-owned subsidiary, Pioneer Critical Power,
−Removed: Inc., and an individual acting in his capacity as an employee of the Company, collectively as defendants.
−Removed: Plaintiffs filed an amended
−Removed: complaint on July 7, 2023, alleging negligent driving, negligent entrustment, and negligent hiring, training and supervision, as a result
−Removed: of a car accident that occurred on September 9, 2019, and seeking special damages related to the injuries allegedly sustained by Plaintiffs.
−Removed: The amended complaint also named Titan Energy Systems, Inc.
−Removed: as a defendant instead of Pioneer Critical Power, Inc.
−Removed: On July 27, 2023, the
−Removed: defendants filed an Answer to Plaintiff’s Amended Complaint.
−Removed: On October 6, 2023, a mediation was held, but the parties did not reach
−Removed: a settlement.
−Removed: In June 2024 another mediation was held and the parties reached a settlement for all of the Plaintiffs’ claims.
−Removed: On May 26, 2023, the Company filed a complaint against PowerSecure, Inc.
−Removed: (“PowerSecure”) in Minnesota
−Removed: state court, which was subsequently removed to U.S.
−Removed: District Court, District of Minnesota on June 20, 2023, alleging breach of contract,
−Removed: unjust enrichment and tortious interference (the “PowerSecure Action”).
−Removed: Thereafter, in the fourth quarter of 2023, the Company
−Removed: entered into a Settlement Agreement and Release with PowerSecure.
−Removed: On January 4, 2024, the Company and PowerSecure stipulated to a voluntary
−Removed: dismissal of the PowerSecure Action with prejudice, and as a result, the PowerSecure Action was dismissed with prejudice on January 5,
−Removed: of the date hereof, we are not aware of or a party to any other legal proceedings to which we or any of our subsidiaries is a party or
−Removed: to which any of our property is subject, nor are we aware of any such threatened or pending litigation or any such proceedings known
−Removed: to be contemplated by governmental authorities that we believe could have a material adverse effect on our business, financial condition
+Added: date hereof, we are not aware of or a party to any legal proceedings to which we or our subsidiary is a party or to which any
+Added: of our property is subject, nor are we aware of any such threatened or pending litigation or any such proceedings known to be contemplated
+Added: by governmental authorities that we believe could have a material adverse effect on our business, financial condition or operating results.
+Added: can give no assurance that any lawsuits or claims brought in the future will not have an adverse effect on our financial condition, liquidity
or operating results.
−Removed: can give no assurance that any other lawsuits or claims brought in the future will not have an adverse effect on our financial condition,
−Removed: liquidity or operating results.
are not aware of any material proceedings in which any of our directors, officers or affiliates or any registered or beneficial shareholder
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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.