Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 117

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 8
Chunk 117
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Item 8: Financial Information
A. Consolidated Statements and Other Financial Information.
We have appended our consolidated financial statements at the end of this Annual Report, starting at page F-1, as part of this Annual Report.
Legal Proceedings
On December 16, 2022, a lawsuit was filed in the District Court, against REE and its US subsidiaries (in this section, the “Group”), by OSR Group alleging that the Group stole OSR Group’s trade secrets. The OSR Group requested the court to grant them the following: (a) a request for an injunction pertaining to the use of such trade secrets; (b) affirmative action to protect the OSR Group’s alleged trade secrets; (c) the establishment of a constructive trust to transfer all the relevant Group’s legal title and intellectual property to the OSR Group; (d) an award to the OSR Group of monetary damages in an amount of no less than USD 2.6 billion together with exemplary damages in an amount of no less than USD 5.2 billion, such amounts to be determined in the trial, plus interest; (e) an award to the OSR Group for all of its expenses relating to the action; (f) an award to the OSR Group of pre-judgment interest on all damages; and (g) an award of other relief as the court deem fit. REE believes that the lawsuit is without merit and is defending itself vigorously. On January 4, 2024, Magistrate Judge Susan Hightower entered a Report and Recommendation, or the Report, recommending dismissal of the lawsuit based on forum non conveniens, such that OSR could pursue its claims in an Israeli forum rather than in the U.S., assuming that OSR chooses to do so after dismissal. The Report was pending before the District Court, which conducted a de novo review of the motion to dismiss, the response, the Report and its recommendation, the objection to the Report and recommendation, the response and reply to the objections, and the applicable laws. The Report was not binding on the District Court. On August 26, 2024, the District Court issued an order adopting the recommendation of the Report and granted the Group’s motion to dismiss for forum non conveniens in accordance with the Report and the recommendation therein and ordered the clerk of the court to close the case. The District Court also noted that it may reassert jurisdiction if timely notified that the courts of Israel refuse to accept jurisdiction of this case for reasons other than