Thu, Oct 17, 9:14 PM (19 days ago)
Cryo-Cell International, Inc. (CCEL) filed an amendment to its Form 10-Q for the quarter ended August 31, 2024, primarily to update legal disclosures related to the case of Lindsey Lehr v. Cryo-Cell International, Inc. The case involves allegations regarding the company's marketing practices related to umbilical cord blood storage services, with claims filed in January 2023. The company removed the case to federal court and successfully compelled arbitration, with the plaintiff subsequently dropping class action allegations. Cryo-Cell believes the claims are unlikely to succeed and intends to contest them vigorously, asserting that the outcome should not materially affect its financial position or operations. However, it acknowledges the inherent uncertainties of litigation, which could impact business outcomes. The amendment does not alter other financial disclosures in the original filing, which remains effective as of its original date.