Company: USCB
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001562762-25-000043
Chunk: 16

Company: USCB FINANCIAL HOLDINGS, INC.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 16
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action and to award damages in an amount to be proven at trial. 

The Plaintiffs sought damages exceeding $750,000 plus attorney’s fees and costs as well as such other relief as the Court 

determined to award. 

The Defendants filed a motion to dismiss the Litigation with prejudice (the “Motion”). On December 27, 2023, the Court, 

after reviewing the Motion, the Plaintiff’s response thereto and the Defendant’s reply as well as the oral arguments presented 

by the parties on December 14, 2023, granted the Motion, dismissing the Litigation with prejudice and rendering final 

judgment in favor of the Defendants (the “Order”). The Court reserved jurisdiction to award costs or grant any post-judgment 

relief. 

On May 1, 2024, the Plaintiffs filed in the Third District Court of Appeal for the State of Florida (the “Appellate Court”) 

an appeal (the “Appeal”), appealing the issuance of the Order and seeking a reversal of the Order. The Plaintiffs claimed 

the Court erred by concluding (i) the Exchange Transaction was not ultra vires, and (ii) that the Legacy Shareholders (which 

includes the Plaintiffs) lacked direct standing. The Plaintiffs filed their initial brief and the Defendants filed on July 1, 2024 

their answer brief (“Answer Brief”) responding to the allegations contained in the Appeal. 

Oral argument was heard before the Court on January 14, 2025. On February 18, 2025, the Appellate Court affirmed 

the lower court's ruling and dismissed the lawsuit, in favor of the Defendants (the “Dismissal”). The Plaintiffs have the right 

to appeal the Dismissal, but they have not done so as of the date of the filing of this Annual Report on Form 10-K.

The Company believes that the positions in the Appeal are legally and factually without merit, and it intends to vigorously 

defend against any appeal of the