Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 111

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 claims was owed to him under his Employment
Agreement. He has also claimed that in connection with his termination he is entitled to the payment of certain amounts for unused paid
leave during his employment with Zoomcar, along with certain other compensation he claims to be owed under the terms of his Employment
Agreement, including “Owed Severance” equal to approximately $72,000. In total, Mr. Moran seeks damages of at least $238,000
plus damages associated with the 8% of shares. He also seeks damages under the New York Labor Law, under which he seeks liquidated damages
equal to 100% of any unpaid wages. He claims that all of the above constitute wages under New York Labor Law.

Zoomcar believes that the termination of Mr. Moran’s
employment for cause was proper in accordance with the terms of his Employment Agreement. Mr. Moran’s case in the District Court
was dismissed on account of Mr. Moran’s stated intention to refile the case in Delaware Superior Court. Mr. Moran refiled his lawsuit
in the Superior Court of the State of Delaware on November 1, 2024. On November 27, 2024, the Company filed a motion to dismiss certain
of the causes of action for failure to state a cause of action, and the briefing on that motion was filed on January 7, 2025. Mr. Moran
filed opposition to Zoomcar’s motion on February 5, 2025 and Zoomcar filed a reply in further support of its motion on February
20, 2025. Zoomcar’s oral arguments in its motion to dismiss were heard on April 29, 2025. The Court has requested additional briefing
with respect to the Company’s motion to dismiss Mr. Moran’s Wage claim. The additional briefing is due on August 15,
2025. The court granted the motion to dismiss Mr. Moran’s quasi-contractual claims and reserved decision on the balance of
the motion. Zoomcar believes the allegations are without merit, intends to defend them vigorously and expects to prevail either at the
motion stage or at a hearing on the merits. For more information see the section herein titled “Risk-Factors — The
founder and former CEO of the Company has initiated a civil complaint against the Company contesting the reasons for his termination and
has raised certain other claims with regards to his ownership of the Company and compensation for termination of his employment.”

Litigation with ACM

The Company received two