Legal Proceedings
−Removed: As of March 31, 2025,
+Added: As of June 30, 2025,
there were no material pending legal proceedings to which the Company is a party or as to which any of its property is subject other than
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Securities Litigation:
−Removed: On February 4, 2025, the District
−Removed: Court issued an order granting in part and denying in part the renewed motion to dismiss and denying Plaintiffs’ motion for leave
−Removed: to file a sur-reply.
−Removed: The District Court dismissed all claims against Mr.
+Added: On February 4, 2025, the District Court issued an order granting in
+Added: part and denying in part the renewed motion to dismiss and denying Plaintiffs’ motion for leave to file a sur-reply.
+Added: Court dismissed all claims against Mr.
Denton, and claims against the Company and Mr.
−Removed: Heyward based
−Removed: on all but one of the complained-of statements.
−Removed: However, the District Court determined that Plaintiffs had adequately pled a Section 10(b)
−Removed: claim based on March 2020 statements concerning the number of times that the Rainbow Rangers cartoon was airing on Nickelodeon.
−Removed: the other alleged misstatements that were dismissed, and as to any claims against Mr.
−Removed: Denton, the District Court granted Plaintiffs leave
−Removed: to amend their pleading another time.
−Removed: On March 3, 2025, Plaintiffs filed a Third Amended Complaint, seeking again to assert claims against
−Removed: the Company and Mr.
−Removed: Heyward related to the four alleged misstatements that survived the Ninth Circuit appeal;
−Removed: they did not replead any
−Removed: claims against Mr.
−Removed: On April 14, 2025, defendants filed a motion to dismiss the Third Amended Complaint.
−Removed: We are currently awaiting
−Removed: Plaintiffs’ opposition to that motion, which is due in mid-May.
−Removed: Briefing extends into late June, and a hearing has been scheduled
−Removed: for July 14, 2025.
−Removed: We cannot predict the outcome of the motion.
+Added: Heyward based on all but one of the complained-of
+Added: However, the District Court determined that Plaintiffs had adequately pled a Section 10(b) claim based on March 2020 statements
+Added: concerning the number of times that the Rainbow Rangers cartoon was airing on Nickelodeon.
+Added: As to the other alleged misstatements that
+Added: were dismissed, and as to any claims against Mr.
+Added: Denton, the District Court granted Plaintiffs leave to amend their pleading another time.
+Added: On March 3, 2025, Plaintiffs filed a Third Amended Complaint, seeking again to assert claims against the Company and Mr.
+Added: Heyward related
+Added: to the four alleged misstatements that survived the Ninth Circuit appeal;
+Added: they did not replead any claims against Mr.
+Added: 14, 2025, defendants filed a motion to dismiss the Third Amended Complaint.
+Added: On August 5, 2025, the District Court issued a decision that
+Added: granted in part and denied in part Defendants’ motion to dismiss Plaintiffs’ Third Amended Complaint.
+Added: Two of the four alleged
+Added: misstatements were dismissed with prejudice.
+Added: Plaintiffs were granted leave to amend as to one of the alleged misstatements, and the Court
+Added: denied the motion as to the fourth misstatement.
+Added: According to the August 5 decision, Plaintiffs may file a fourth amended complaint no
+Added: later than September 2, 2025 and Defendants’ response will be due September 29, 2025.
Meanwhile, as previously reported,
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filed cross-motions for summary judgment in mid-January 2025.
−Removed: Opposition papers on those motions were filed February 26, 2025.
−Removed: has not yet responded to the parties’ requests for argument on the cross-motions, and we cannot predict the outcome of the motions.
+Added: Those cross-motions are fully briefed.
+Added: The Court has not yet responded to
+Added: the parties’ requests for argument on the cross-motions, and we cannot predict the outcome of the motions.
With those motions pending,
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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.