LEGAL PROCEEDINGS
−Removed: On February 3, 2023, a putative securities class action (the “Putative Class Action”) was filed in the U.S.
−Removed: District Court for the Northern District of California, captioned City of Hollywood Firefighters’ Pension Fund vs.
−Removed: Atlassian Corporation , Case No.
−Removed: 3:23-cv-00519, naming the Company and certain of its officers as defendants.
−Removed: The lawsuit was purportedly brought on behalf of purchasers of the Company’s securities between August 5, 2022 and November 3, 2022 (the “Class Period”).
−Removed: The complaint alleged claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company’s business and prospects during the Class Period.
−Removed: The lawsuit sought unspecified damages.
−Removed: On January 22, 2024, the court granted the defendants’ motion to dismiss plaintiffs’ complaint with leave to amend.
−Removed: Plaintiffs filed a second amended complaint on March 1, 2024 and the defendants filed a motion to dismiss on April 19, 2024.
−Removed: On August 13, 2024, the court issued a ruling granting the defendants’ motion to dismiss plaintiffs’ second amended complaint.
−Removed: Plaintiffs did not file a third amended complaint or an appeal.
−Removed: In March, April and August 2023, three stockholder derivative lawsuits were filed in the U.S.
−Removed: District Court for the District of Delaware against the members of the Company’s board of directors and certain of its officers, captioned Silva v.
−Removed: Cannon-Brookes , Case No.
−Removed: 1:23-cv-00283;
−Removed: Cannon-Brookes , Case No.
−Removed: 1:23-cv-00399;
−Removed: and Azzawi v.
−Removed: Cannon-Brookes , Case No.
−Removed: 1:23-cv-00884.
−Removed: The Company is named as a nominal defendant.
−Removed: These stockholder derivative lawsuits are based largely on the same allegations as the Putative Class Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading.
−Removed: The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder.
−Removed: The complaints seek unspecified damages and other relief purportedly on the Company’s behalf.
−Removed: In May and August 2023, the Court consolidated the Silva, Keane, and Azzawi actions into In re Atlassian Corporation Stockholder Derivative Litigation , Case No.
−Removed: 1:23-cv-00283-GBW (the “Consolidated Action”), and stayed the Consolidated Action pending resolution of any motion(s) to dismiss in the Putative Class Action.
−Removed: Following the dismissal of the Putative Class Action, the Consolidated Action was voluntarily dismissed without prejudice on October 18, 2024.
−Removed: On September 6, 2023, a stockholder derivative lawsuit was filed in the U.S.
−Removed: District Court for the Northern District of California against the members of the Company’s board of directors and certain of its officers, captioned Capistrano v.
−Removed: Cannon-Brookes , Case No.
−Removed: 4:23-cv-04584 (the “Capistrano Action”).
−Removed: The Company is named as a nominal defendant.
−Removed: The complaint is based largely on the same allegations as the Putative Class Action and the Consolidated Action, including allegations relating to the Company’s disclosures during the Class Period as well as, in certain instances, alleged insider trading.
−Removed: The lawsuits purport to assert claims for, among other things, breach of fiduciary duty, corporate waste, unjust enrichment, and violations of Section 10(b) of the Exchange Act, and Rule 10b-5 promulgated thereunder.
−Removed: The complaints seek unspecified damages and other relief purportedly on the Company’s behalf.
−Removed: On October 31, 2023, the Court stayed the Capistrano Action pending resolution of any motion(s) to dismiss in the Putative Class Action.
−Removed: Following the dismissal of the Putative Class Action, the Capistrano Action was voluntarily dismissed without prejudice on October 17, 2024.
−Removed: In addition to the matters discussed above, from time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business.
−Removed: While the Company does not believe the ultimate resolutions of these other pending legal matters not described above are likely to have a material adverse effect on the Company’s financial position, the results of any litigation or other legal proceedings are uncertain and as such the resolution of such legal proceedings, either individually or in the aggregate, could have a material adverse effect on its business, results of operations, financial condition or cash flows.
−Removed: The Company accrues for loss contingencies when it is both probable that it will incur the loss and when it can reasonably estimate the amount of the loss or range of loss.
−Removed: For the periods presented, the Company has not recorded any liabilities as a result of the litigation or other legal proceedings in its condensed consolidated financial statements.
+Added: From time to time, we are party to litigation and other legal proceedings in the ordinary course of business.
+Added: While we do not believe the ultimate resolutions of these pending legal matters are likely to have a material adverse effect on our financial position, the results of any litigation or other legal proceedings are uncertain and as such the resolution of such legal proceedings, either individually or in the aggregate, could have a material adverse effect on our business, results of operations, financial condition or cash flows.
+Added: We accrue for loss contingencies when it is both probable that we will incur the loss and when we can reasonably estimate the amount of the loss or range of loss.
+Added: For the periods presented, we have not recorded any liabilities as a result of the litigation or other legal proceedings in our condensed consolidated financial statements.
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.