Quarterly report pursuant to Section 13 or 15(d)

Note 14 - Commitments and Contingencies

v3.20.2
Note 14 - Commitments and Contingencies
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
14.
Commitments and Contingencies
 
Litigation funding agreement
 
On
December 27, 2019,
we entered into a litigation funding agreement with LEGALIST FUND II, L.P. (the Funder) for the purpose of funding our currently pending lawsuit against Pharmaceutical Research Associates Group B.V. Under the terms of the litigation funding agreement, the Funder agreed to pay up to an aggregate of
$1.0
million to fund reasonable legal fees, court costs, and other expenses incurred by us in connection with the litigation. These payments, however, were conditioned upon the transfer of venue of the litigation from Delaware to Minnesota; and if the venue was
not
transferred, we were
not
entitled to receive any payments under the agreement. On
September 21, 2020,
the United States District Court, District of Delaware, issued a ruling denying our motion to transfer the litigation indicating that we had
not
met the required standards to support a venue transfer. As a result of this ruling, the litigation funding agreement is terminated.