Legal Proceedings
−Removed: The Company is named as a defendant in a purported class action lawsuit, Aeron Averette v.
+Added: The Company was named as a defendant in a purported class action lawsuit, Aeron Averette v.
Red River Bancshares , filed on August 28, 2020, in the 19th Judicial District Court of the State of Louisiana.
−Removed: The lawsuit alleges the Bank wrongfully imposed multiple non-sufficient funds fees on what the plaintiff describes as a single item presented for payment, thereby resulting in the Bank breaching its customer account agreement, abusing its rights, and being unjustly enriched.
−Removed: The plaintiff purports to represent a class consisting of all account holders in Louisiana who incurred similar charges by the Bank within the applicable statute of limitations.
−Removed: The plaintiff seeks unspecified damages, costs, fees, attorney’s fees, and general and equitable relief for herself and the purported class.
−Removed: The Company and Bank deny the allegations and intend to vigorously defend the matter.
−Removed: At this early stage of the lawsuit, we cannot determine the probability of a materially adverse result or reasonably estimate the potential exposure, if any.
+Added: The lawsuit alleged the Bank wrongfully imposed multiple non-sufficient funds fees on what the plaintiff described as a single item presented for
+Added: payment, thereby resulting in the Bank breaching its customer account agreement, abusing its rights, and being unjustly enriched.
+Added: The plaintiff purported to represent a class consisting of all account holders in Louisiana who incurred similar charges by the Bank within the applicable statute of limitations.
+Added: The plaintiff sought unspecified damages, costs, fees, attorney’s fees, and general and equitable relief for herself and the purported class.
+Added: The dispute was resolved by settlement agreement dated January 25, 2022, and the lawsuit was dismissed by the court on March 15, 2022.
From time to time, the Company, including its subsidiaries, are or may be involved in various legal matters arising in the ordinary course of business.
5 unchanged sentences
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.