Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 267

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 4
Chunk 267
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v. Foxx Development Holdings Inc., et al., No. 2024-1200 (Del. Ch. Ct.), a class action lawsuit in Delaware Chancery Court against the
Company and certain “Individual Defendants” (“Joy” Yi Hua, Haitao Cui, “Jeff” Feng Jiang, “Eva”
Yiqing Miao and Edmund R. Miller). The lawsuit seeks declaratory relief under provisions of the Delaware General Corporation Law relating
to a waiver of the corporate opportunity doctrine that is contained in the Company’s Amended and Restated Certificate of Incorporation.
The plaintiff seeks a declaration that the waiver provision is invalid, an injunction against the Company and the Individual Defendants
to prevent them from attempting to enforce the waiver, attorneys’ fees, and the costs and disbursements of this action. The Company
denies the claims and intends to vigorously defend the action.

Item 1a. Risk Factors

For a discussion of our risk factors, see Part I, Item 1A. “Risk
Factors” of the 2024 10-K, as well as the Company’s final prospectus (File No. 333-284186), dated January 23, 2025 (the “Warrant
Share Issuance Prospectus”), filed with the SEC in connection for the issuance of up to 12,145,917 shares of common stock issuable
upon exercises of certain warrants of the Company. The risks and uncertainties that we face are not limited to those set forth in the
10-K and the Warrant Share Issuance Prospectus. Additional risks and uncertainties not presently known to us or that we currently believe
to be immaterial may also adversely affect our business and the trading price of our securities. There have been no material changes to
the Company’s risk factors since the filing of the 2024 10-K and the Warrant Share Issuance Prospectus.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

Item 6. Exhibits

    31.1*
     
    Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer
  
    31.2*
     
    Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial and accounting officer