Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 69

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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., RBC Capital
Markets LLC, SG Americas Securities LLC, UBS Securities LLC, and Virtu Financial BD LLC.

The
lead plaintiff has filed a notice of voluntary dismissal of its claims against BNP Paribas Securities Corporation, Citadel Securities
LLC, Citigroup Global Markets Inc., Credit Suisse Securities USA LLC, Deutsche Bank Securities Inc., Morgan Stanley & Company, Inc.,
Nomura Securities International, Inc., RBC Capital Markets, LLC, SG Americas Securities LLC, and UBS Securities LLC.

USCF
LLC, USO, and the individual defendants in In re: United States Oil Fund, LP Securities Litigation intend to vigorously contest
such claims and have moved for their dismissal.

Mehan
Action

On
August 10, 2020, purported shareholder Darshan Mehan filed a derivative action on behalf of nominal defendant USO, against defendants
 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 (the “Mehan Action”). The action is pending in the Superior
Court of the State of California for the County of Alameda as Case No. RG20070732.

The
Mehan Action alleges that the defendants breached their fiduciary duties to USO and failed to act in good faith in connection with a
March 19, 2020 registration statement and offering and disclosures regarding certain extraordinary market conditions that caused demand
for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The complaint seeks,
on behalf of USO, compensatory damages, restitution, equitable relief, attorney’s fees, and costs. All proceedings in the Mehan
Action are stayed pending disposition of the motion(s) to dismiss in In re: United States Oil Fund, LP Securities Litigation.

USCF
LLC, USO, and the other defendants intend to vigorously contest such claims.

In
re United States Oil Fund, LP Derivative Litigation

On
August 27, 2020, purported shareholders Michael Cantrell and AML Pharm. Inc. DBA Golden International filed two separate derivative actions
on behalf of nominal defendant USO, against defendants  John P. Love, Stuart P. Crumbaugh, Andrew F Ngim,
Nicholas D. Gerber,  Robert L. Nguyen, Gordon