Item 3. Legal Proceedings
Item 3. Legal Proceedings
In March 2014, Saregama India, Limited filed a lawsuit against us before
the Barasat District Court, seeking approximately $1.6 million as damages and an injunction for copyright infringement. Saregama India
alleged that we made available Saregama India’s sound recordings through our platform with full knowledge that the sound recordings
had been uploaded and were being communicated to the public without obtaining any license from Saregama India. On August 20, 2019, the
Court lifted the injunction and, subsequently, Saregama India executed a consent pursuant to which the case against us was dismissed.
We may from time to time be subject to other legal proceedings that
arise in the ordinary course of business. Although there can be no assurance in this regard, we do not expect any of those legal proceedings
to have a material adverse effect on our results of operations, cash flows or financial condition.
Item 4. Mine Safety Disclosures
None.
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PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.