Legal Proceedings.
−Removed: There have been no material changes in the legal proceedings previously disclosed in Part I, Item 3 of the Corporation’s Annual Report on Form 10-K for the year ended June 30, 2019, except as
−Removed: On July 24, 2019, the California Superior Court for the County of San Bernardino, California granted final approval of the settlement in the Cannon vs.
−Removed: Bank lawsuit.
−Removed: On July 26, 2019, the final
−Removed: order was signed by this court and on August 6, 2019, the Bank forwarded the settlement amount to the class administrator.
−Removed: The total settlement was reduced to $2.5 million from $2.8 million, resulting in a $296,000 settlement expense recovery which
−Removed: was recognized in the first quarter of fiscal 2020.
+Added: Periodically, there have been various claims and lawsuits involving the Corporation, such as claims to enforce liens, condemnation proceedings on properties in which the Corporation holds security
+Added: interests, claims involving the making and servicing of real property loans, employment matters and other issues in the ordinary course of and incidental to the Corporation’s business.
+Added: These proceedings and the associated legal claims are often
+Added: contested and the outcome of individual matters is not always predictable.
+Added: Additionally, in some actions, it is difficult to assess potential exposure because the Corporation is still in the early stages of the litigation.
+Added: The Corporation is not a
+Added: party to any pending legal proceedings that it believes would have a material adverse effect on its financial condition, operations or cash flows.
+Added: Risk Factors.
+Added: There have been no material changes in the risk factors previously disclosed in Part I, Item 1A of the Corporation's Annual Report on Form 10-K for the year ended June 30, 2020.
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.