Commitments, Contingencies and Litigation |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2016 | |||
| Commitments and Contingencies Disclosure [Abstract] | |||
| Commitments, Contingencies and Litigation |
From time to time in the ordinary course of its business, the Company may be involved in legal proceedings, the outcomes of which may not be determinable. The Company has insurance policies covering potential losses where such coverage is cost effective. The Company is aware of a putative securities class action complaint filed on November 8, 2016 in the U.S. District Court for the Central District of California (the “Complaint”) against the Company, Eric Steen, our CEO, and Jonathan Foster, our former CFO in connection with the Company’s financial restatements. To date, neither the Company nor Messrs. Steen and Foster have been served with the Complaint. The Company cannot, at this time, estimate the potential impact of the Complaint or similar threatened investigations or complaints. The Company believes we have adequate insurance coverage to defend against the Complaint should a class action be certified. The Company is not, at this time, involved in any other legal proceedings that the Company believes could have a material effect on the Company’s financial condition, results of operations or cash flows. |