Legal Proceedings
−Removed: Derivative Litigation
−Removed: On September 25, 2020, a shareholder filed a derivative complaint in South Carolina state court, Paul Parshall v.
−Removed: World Acceptance et al.
−Removed: , against the Company as the nominal defendant and certain current and former directors and officers as defendants.
−Removed: Pointing to the Company’s resolution with the SEC and DOJ of the Mexico investigation previously disclosed, and summarized below under Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Regulatory Matters,” the complaint alleges violations of South Carolina law, including breaches of fiduciary duties and corporate waste, and that the Company has suffered damages as a result of those alleged breaches.
−Removed: On April 19, 2023, the Court preliminarily approved a Stipulation and Agreement of Settlement dated March 31, 2023 (the “Stipulation”), by and among:
−Removed: the plaintiff, derivatively on behalf of the Company; (ii) the individual defendants;
−Removed: and (iii) the Company.
−Removed: If approved, the Stipulation will result in a non-material payment by the Company.
−Removed: In addition, from time to time the Company is involved in litigation matters relating to claims arising out of its operations in the normal course of business.
+Added: From time to time, the Company is involved in litigation matters relating to claims arising out of its operations in the normal course of business.
Estimating an amount or range of possible losses resulting from litigation, government actions, and other legal proceedings is inherently difficult and requires an extensive degree of judgment, particularly where the matters involve indeterminate claims for monetary damages, may involve fines, penalties, or damages that are discretionary in amount, involve a large number of claimants or significant discretion by regulatory authorities, represent a change in regulatory policy or interpretation, present novel legal theories, are in the early stages of the proceedings, are subject to appeal or could result in a change in business practices.
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.