Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 128

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 128
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8% of the Company’s outstanding equity that he claims was owed to him under his Employment
Agreement. He has also claimed that in connection with his termination he is entitled to the payment of certain amounts for unused paid
leave during his employment with Zoomcar, along with certain compensation he claims to be owed under the terms of his Employment Agreement,
“Owed Severance” equal to approximately $72,000. In total, Mr. Moran seeks damages of at least $238,000 plus damages associated
with the 8% of shares. He also seeks damages under the New York Labor Law, under which he seeks liquidated damages equal to 100% of any
unpaid wages. He claims that all of the above constitute wages under New York Labor Law.

Zoomcar believes that the
termination of Mr. Moran’s employment for cause was proper in accordance with the terms of his Employment Agreement. Mr. Moran’s
case in the District Court was dismissed on account of Mr. Moran’s stated intention to refile the case in Delaware Superior Court.
Mr. Moran refiled his lawsuit in the Superior Court of the State of Delaware on November 1, 2024. On November 27, 2024, the Company filed
a motion to dismiss certain of the causes of action for failure to state a cause of action, and the briefing on that motion was filed
on January 7, 2025. Mr. Moran filed opposition to Zoomcar’s motion on February 5, 2025 and Zoomcar filed a reply in further
support of its motion on February 20, 2025.Zoomcar’s oral arguments in its motion to dismiss  were heard on April 29, 2025.
The Court has requested additional briefing with respect to the Company’s motion to dismiss Mr. Moran’s Wage claim. The
additional briefing is due on August 15, 2025. The court granted the motion to dismiss Mr. Moran’s quasi-contractual claims
and reserved decision on the balance of the motion. Zoomcar believes the allegations are without merit, intends to defend them vigorously
and expects to prevail either at the motion stage or at a hearing on the merits. However, there can be no assurance that the Company will
be successful in defending these claims in its entirety and such efforts may be time-consuming, costly and may have reputational and other
negative effects on Zoomcar.

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ACM has filed a notice of motion for summary
judgement in lieu of