Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 831

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 7A
Chunk 831
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CF are not currently party to any material legal proceedings.

In
re: United States Oil Fund, LP Securities Litigation

On
June 19, 2020, USCF LLC, USO, John P. Love, and Stuart P. Crumbaugh were named as defendants in a putative class action filed by purported
shareholder Robert Lucas (the “Lucas Class Action”). The Court thereafter consolidated the Lucas Class Action with two related
putative class actions filed on July 31, 2020 and August 13, 2020, and appointed a lead plaintiff. The consolidated class action is pending
in the U.S. District Court for the Southern District of New York under the caption In re: United States Oil Fund, LP Securities Litigation,
Civil Action No. 1:20-cv-04740.

On
November 30, 2020, the lead plaintiff filed an amended complaint (the “Amended Lucas Class Complaint”). The Amended Lucas
Class Complaint asserts claims under the 1933 Act, the Exchange Act, and Rule 10b-5. The Amended Lucas Class Complaint challenges
statements in registration statements that became effective on February 25, 2020 and March 23, 2020 as well as subsequent public statements
through April 2020 concerning certain extraordinary market conditions and the attendant risks that caused the demand for oil to fall
precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The Amended Lucas Class Complaint purports
to have been brought by an investor in USO on behalf of a class of similarly-situated shareholders who purchased USO securities between
February 25, 2020 and April 28, 2020 and pursuant to the challenged registration statements. The Amended Lucas Class Complaint seeks
to certify a class and to award the class compensatory damages at an amount to be determined at trial as well as costs and attorney’s
fees. The Amended Lucas Class Complaint named as defendants USCF, USO, John P. Love, Stuart P. Crumbaugh, Nicholas D. Gerber, Andrew
F Ngim, Robert L. Nguyen, Peter M. Robinson, Gordon L. Ellis, and Malcolm R. Fobes III, as well as the marketing agent, ALPS Distributors,
Inc., and the Authorized Participants: ABN Amro, BNP Paribas Securities Corporation, Citadel Securities LLC, Citigroup Global Markets,
Inc