Settlement of Class Action Lawsuits Sample Clauses

Settlement of Class Action Lawsuits. The Company is obligated to issue $2 million in common stock related to the settlement of 2014 action lawsuits alleging violations of federal securities laws were filed against the Company in United States District Court, Central District of California. In addition, the Company has issued 7,772,725 shares to ▇▇▇▇▇▇▇ + ▇▇▇▇▇▇▇▇▇ LLP in settlement of the Company’s legal expenses incurred in defending these lawsuits.