2 unchanged sentences
Accounting for contingencies requires the Company to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss.
−Removed: Table of C ontents
−Removed: Company records a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
+Added: The Company records a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
The Company discloses material contingencies when a loss is not probable but reasonably possible.
27 unchanged sentences
However, on July 19, 2023, the Court ordered a stay of the case at the parties’ request to enable the parties to attempt mediation again.
−Removed: The parties are working to schedule mediation in the first half of 2024.
+Added: The parties have continued to engage in settlement discussions facilitated by a mediator.
The final outcome of this litigation, including our liability, if any, with respect to Chanel’s claims, is uncertain.
An unfavorable outcome in this or similar litigation could adversely affect the Company’s business and could lead to other similar lawsuits.
−Removed: The Company is not able to predict or reasonably estimate the ultimate outcome or possible losses relating to this claim.
+Added: The Company is not able to predict or reasonably estimate the ultimate outcome or loss or range of possible losses relating to this claim.
Beginning on September 10, 2019, purported shareholder class action complaints were filed against the Company, its officers and directors and the underwriters of its IPO in the San Mateo Superior Court, Marin County Superior Court, and the United States District Court for the Northern District of California.
8 unchanged sentences
The claims are for alleged violations of Sections 11 and 15 of the Securities Act.
−Removed: On February 23, 2024, plaintiff filed a motion for class certification, which has been set for hearing on May 28, 2024.
+Added: On February 23, 2024, plaintiff filed a motion for class certification, which has been set for hearing on February 25, 2025.
While the Company intends to defend vigorously against this litigation, there can be no assurance that the Company will be successful in its defense.
1 unchanged sentence
Mine Safety Disclosures.
−Removed: Table of C ontents
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.