1 unchanged sentence
On January 6, 2020, the Company’s former Chief Executive Officer, Scott Crane, filed suit in the U.S.
−Removed: District Court for the Eastern District of Texas
−Removed: alleging various claims in connection with the Company’s termination of his employment in July 2019.
+Added: District Court for the Eastern District of Texas alleging various claims in connection with the
+Added: Company’s termination of his employment in July 2019.
In general, the suit asserted that the Company terminated Mr.
−Removed: Crane for the purpose of depriving him of certain equity compensation that would
−Removed: otherwise have become due to him on October 15, 2019.
+Added: Crane for the purpose of depriving him of certain equity compensation that would otherwise have become due to him on October 15,
The case proceeded to a jury trial, which resulted in a verdict in favor of Crane on his breach of contract claim.
−Removed: On February 9, 2022, the Court entered a $1.9 million judgment against the
−Removed: Company inclusive of attorney fees, court costs and pre-judgment interest.
+Added: On February 9, 2022, the Court entered a $1.9 million judgment against the Company inclusive of attorney fees, court costs and
+Added: pre-judgment interest.
The Company has filed an appeal of the judgment to the Fifth Circuit Court of Appeals.
+Added: There are three possibilities upon decision by the Fifth Circuit Court of Appeals:
+Added: the judgment could be affirmed;
+Added: the judgment could be
+Added: reversed and the matter sent for a new trial;
+Added: or, the judgment could be reversed and judgment entered in favor of the Company.
+Added: Due to the range of possible decisions by the Fifth Circuit Court of Appeals, it is impossible to predict the ultimate
+Added: outcome at this time.
The Company is subject to other claims and legal actions in the ordinary course of its business.
−Removed: The Company believes that all such claims and actions
−Removed: currently pending against it are either adequately covered by insurance or would not have a material adverse effect on the Company’s annual results of operations, cash flows or financial condition if decided in a manner that is unfavorable to the
+Added: The Company believes that all such claims and actions currently pending against it are either
+Added: adequately covered by insurance or would not have a material adverse effect on the Company’s annual results of operations, cash flows or financial condition if decided in a manner that is unfavorable to the Company.
Not required for a smaller reporting company.
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.