LEGAL PROCEEDINGS
−Removed: From time to time, we may be involved in certain legal and regulatory proceedings, as well as demands, investigations
−Removed: and claims that arise in the ordinary course of our
−Removed: The ultimate outcome of any litigation is often uncertain and unfavorable outcomes could have a negative impact on our results
−Removed: of operations and financial condition.
−Removed: We make a provision for a liability relating to legal matters when it is both probable that a
−Removed: liability has been incurred and the amount of the loss can be reasonably estimated.
−Removed: These provisions are reviewed at least quarterly
−Removed: and adjusted to reflect the impact of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information
−Removed: and events pertaining to a particular matter.
+Added: time to time, we may be involved in certain legal and regulatory proceedings, as well as demands, investigations and claims that arise
+Added: in the ordinary course of our business.
+Added: The ultimate outcome of any litigation is often uncertain, and unfavorable outcomes could have
+Added: a negative impact on our results of operations and financial condition.
+Added: We make a provision for a liability relating to legal matters
+Added: when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
+Added: These provisions
+Added: are reviewed at least quarterly and adjusted to reflect the impact of negotiations, estimated settlements, legal rulings, advice of legal
+Added: counsel and other information and events pertaining to a particular matter.
July 7, 2025, a complaint was filed in the Supreme Court of the State of New York, County of New York, captioned H.C.
Stardust Power, Inc.
−Removed: The complaint names us as defendant, alleging, among other things,
−Removed: that we breached an engagement agreement with the plaintiffs.
−Removed: The plaintiffs seek, among other things, payment of all purported
−Removed: unpaid sums due under such engagement agreement.
−Removed: On September 19, 2025, we filed our answer in response to the complaint, in
−Removed: which we denied all liability and asserted several affirmative defenses.
−Removed: We plan to vigorously defend against the lawsuit and
−Removed: the action will proceed next to the discovery stage and for further proceedings.
+Added: The complaint names us as defendant, alleging, among other things, that we
+Added: breached an engagement agreement with the plaintiffs.
+Added: The plaintiffs seek, among other things, payment of all purported unpaid sums due
+Added: under such engagement agreement.
+Added: On September 19, 2025, we filed our answer in response to the complaint, in which we denied all liability
+Added: and asserted several affirmative defenses.
+Added: We plan to vigorously defend against the lawsuit and the action will proceed next to the discovery
+Added: stage and for further proceedings.
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.