LEGAL PROCEEDINGS
−Removed: We are involved in various investigations, claims and lawsuits arising in the normal conduct of our business, none of which, in our opinion, will have a material adverse effect on our financial condition, results of operations, or cash flows.
+Added: As previously disclosed, a subsidiary of Afilias plc (“Afilias”), a competitor and losing bidder in the .web auction, filed a form of arbitration proceeding against ICANN, an Independent Review Process (“IRP”) under ICANN’s bylaws, on November 14, 2018.
+Added: Afilias alleges that the agreement between Verisign and Nu Dotco, LLC (“NDC”) pertaining to .web violated ICANN’s new gTLD Applicant Guidebook.
+Added: As a result, Afilias claims that ICANN had a duty to disqualify NDC’s bid and award the .web gTLD to Afilias.
+Added: Afilias also claims that ICANN would violate its bylaws pertaining to competition by awarding the .web gTLD to Verisign.
+Added: Afilias amended its IRP request on March 21, 2019 in part to oppose Verisign’s and NDC’s participation in the IRP.
+Added: A hearing was held on Verisign’s and NDC’s applications for participation and, on February 12, 2020, the IRP panel permitted Verisign and NDC to participate in aspects of the IRP.
+Added: In early August 2020, the IRP panel held a hearing on Afilias’ claims.
+Added: On April 7, 2021, the IRP panel formally declared the IRP hearing closed.
+Added: Under the applicable arbitration rules, the IRP Panel should now issue a final decision within 60 days from this date.
+Added: We are also involved in various investigations, claims and lawsuits arising in the normal conduct of our business, none of which, in our opinion, will have a material adverse effect on our financial condition, results of operations, or cash flows.
We cannot assure you that we will prevail in any litigation.
1 unchanged sentence
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.