Item 8.01 Other Events.
On
The Complaint seeks relief for alleged breaches of fiduciary duty by the Registrant in connection with the setting of the management fee it receives, pursuant to the terms of the Subscriber's Agreement executed between the Registrant and all policyholders, as compensation for acting as the attorney-in-fact in the management of the Exchange. The relief sought is for the period beginning two years prior to the date of the filing of the Complaint and continuing through 2021.
The Complaint seeks (i) a finding that the Registrant has breached its fiduciary duties; (ii) an award of damages in an amount to be determined at trial; and (iii) such other relief, including disgorgement of profits or other injunctive relief, that the Court deems just and proper.
The Registrant has not been served with the Complaint. The Registrant intends to vigorously defend against all of the allegations and requests for relief in the Complaint.
Reference is made to the Registrant's "Safe Harbor" Statement that is set forth
in its Quarterly Report on Form 10-Q, which was filed with the
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