The company said the court on July 30, 2024 denied the motion for preliminary approval of the settlement agreement resolving all claims in the Le and Johnson class actions for an aggregate $335 million.

8-KRegulation FD DisclosureFiled Jul 31, 2024Period of report Jul 30, 2024Summary published (UTC) Oct 29, 2026

Key points

AI summary

The company said the court on July 30, 2024 denied the motion for preliminary approval of the settlement agreement resolving all claims in the Le and Johnson class actions for an aggregate $335 million.
The company said the $335 million settlement amount was subject to payment in installments by the company and its subsidiaries over an agreed period. It said the court has not yet issued an opinion explaining the reasons for the denial.
The company said a status conference is scheduled for August 19, 2024 and a new tentative trial date for Le has been set for October 28, 2024. It said it is weighing all of its options, including an appeal, and has begun discussions with plaintiffs' counsel.
The company said 5 related lawsuits filed from December 2014 to March 2015 were consolidated into the Le case in June 2015, and the Johnson case was filed in 2021. It said a motion to dismiss the Johnson case is pending and no trial date has been set.

Summary

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Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Court Denies Preliminary Approval of Settlement

The company said the court on July 30, 2024 denied the motion for preliminary approval of the settlement agreement resolving all claims in the Le and Johnson class actions for an aggregate $335 million.

Source · Based on the filing body and exhibits

$335 million Settlement Payable in Installments

The company said the $335 million settlement amount was subject to payment in installments by the company and its subsidiaries over an agreed period. It said the court has not yet issued an opinion explaining the reasons for the denial.

Source · Based on the filing body and exhibits

Next Steps and Company Response

The company said a status conference is scheduled for August 19, 2024 and a new tentative trial date for Le has been set for October 28, 2024. It said it is weighing all of its options, including an appeal, and has begun discussions with plaintiffs' counsel.

Source · Based on the filing body and exhibits

Lawsuit Background and Status of Johnson Case

The company said 5 related lawsuits filed from December 2014 to March 2015 were consolidated into the Le case in June 2015, and the Johnson case was filed in 2021. It said a motion to dismiss the Johnson case is pending and no trial date has been set.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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