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On February 4, 2021, plaintiff filed an amended putative securities class action complaint.
−Removed: The amended complaint alleges that Dr.
−Removed: Giljohann and Mr.
−Removed: Bock made materially false and/or misleading statements related to the Company’s clinical programs purportedly causing losses to investors who acquired Company securities between January 7, 2021 and December 10, 2021.
−Removed: The amended complaint does not quantify any alleged damages but, in addition to attorneys’ fees and costs, plaintiff seeks to recover damages on behalf of himself and others who acquired the Company’s stock during the putative class period at allegedly inflated prices and purportedly suffered financial harm as a result.
−Removed: On March 20, 2023, the Court issued an Order appointing James Mathew as Lead Plaintiff, and Bleichmar Fonti & Auld LLP as Lead Counsel for the purported class.
−Removed: The parties are required to submit, within two weeks of that Order, a schedule to the Court governing the filing of a further amended complaint and the timing of defendants’ answer or response.
+Added: On March 20, 2023, the court entered an order appointing James Mathew as lead plaintiff and Bleichmar Fonti & Auld LLP as lead counsel in the action pursuant to the Private Securities Litigation Reform Act of 1995.
+Added: On May 26, 2023, lead plaintiff filed a second amended complaint against the Company, Dr.
+Added: Giljohann, Mr.
+Added: Bock, and Grant Corbett.
+Added: The second amended complaint alleges that Dr.
+Added: Giljohann, Mr.
+Added: Bock, and Dr.
+Added: Corbett made materially false and/or misleading statements related to the Company’s clinical programs purportedly causing losses to investors who acquired Company securities between January 7, 2021 and December 10, 2021.
+Added: The second amended complaint does not quantify any alleged damages but, in addition to
+Added: attorneys’ fees and costs, lead plaintiff seeks to recover damages on behalf of himself and others who acquired the Company’s stock during the putative class period at allegedly inflated prices and purportedly suffered financial harm as a result.
+Added: The parties filed a joint status report noting the mediation efforts taken by the parties.
+Added: The report also proposes a litigation schedule going forward, which the Court adopted:
+Added: plaintiff's third amended complaint is due on or before June 28, 2024, and any motion to dismiss is due on or before August 27, 2024, with response due on or before October 8, 2024 and any reply due on or before November 5, 2024.
+Added: Accordingly, the status hearing set for May 22, 2024is reset to July 23, 2024.
On March 1, 2022, Kapil Puri filed a shareholder derivative lawsuit on behalf of the Company in the United States District Court for the Northern District of Illinois, against Dr.
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The plaintiffs do not quantify any alleged damages in the Derivative Complaints, but seek restitution for damages to the Company, attorneys’ fees, costs, and expenses, as well as an order directing that certain proposals for strengthening board oversight be put to a vote of the Company’s shareholders.
+Added: On March 18, 2022, James McNabb, through counsel, sent a written demand to the Company (the “Demand Letter”) demanding that the Board of Directors investigate certain allegations and commence proceedings on the Company’s behalf against certain of the Company’s current officers and directors for alleged breaches of fiduciary duties and corporate waste.
All of the Derivative Cases have been stayed pending a decision on any motion to dismiss that may be filed in the Colwell case.
−Removed: In addition, the Stourbridge case has been administratively closed pending the decision on motion to dismiss that may be filed in the Colwell case.
+Added: Further, pursuant to agreement, the Demand Letter is being held in abeyance and any related statute of limitations tolled pending such motion and decision.
+Added: On October 3, 2023, a former employee filed a complaint against the Company and its executives related to the former employee’s separation from the Company in August.
+Added: The parties will proceed with paper discovery and an in-person settlement conference is scheduled for June 26, 2024.
We may also be a party to litigation and subject to claims incident to the ordinary course of business.
4 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.