Dss, Inc 8-K, filed Jan 20, 2023
Dss, Inc. (DSS)
About this 8-K
Dss, Inc filed this 8-K on January 20, 2023.
Items reported
- Item 8.01: Other events
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Item 8.01 Other Events
As we previously disclosed in our Quarterly Report for the Quarter Ending September 30, 2022 (the “10-Q”), on February 15, 2021, Maiden Biosciences, Inc. (“Maiden”) commenced an action against DSS, Inc. (“DSS”), Decentralized Sharing Systems, Inc. (“Decentralized”), HWH World, Inc. (“HWH”), RBC Life International, Inc. (“RBC International”) (together, the “DSS Defendants”), Frank D. Heuszel (“Heuszel”), RBC Life Sciences, Inc (“RBC”), Steven E. Brown, Clinton Howard, and Andrew Howard (collectively, “Defendants”). The lawsuit is currently pending in the United States District Court Northern District of Texas, Dallas Division, and is styled and numbered Maiden Biosciences, Inc. v. Document Security Systems, Inc., et al., Case No. 3:21-cv-00327.
The 10-Q disclosed the procedural details in this matter. The trial in this matter began on December 12, 2022. The jury returned a verdict in favor of Maiden, and the Court entered a judgment on December 20, 2022 awarding Maiden judgment from DSS, Inc., Decentralized Sharing Systems, Inc., and HWH World, Inc., jointly and severally, in the principal sum of $4,244,659.50, together with prejudgment interest of $514,735.00 and post-judgment interest of $146,810.00; prejudgment interest from February 15, 2021 to December 19, 2022 on all the foregoing sums at the rate of 7.5% per annum; post-judgment interest on all the foregoing sums at the rate of 4.76% per annum; and Maiden’s taxable costs of court; plus attorneys’ fees. The judgment also awarded Maiden exemplary damages from Decentralized in the sum of $2,500,000, from HWH in the sum of $2,500,000, and from DSS in the sum of $5,000,000.
The DSS Defendants intend to file post-judgment motions seeking reversal of the judgment for several reasons, including that: (1) the evidence does not support Maiden’s claim against the Company; (2) recovery of exemplary damages under TUFTA is unsupported; and (3) the evidence established that the DSS Defendants are entitled to judgment in their favor on their affirmative defenses. The DSS Defendants intend to appeal the Court’s judgment, if necessary.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| DSS, INC. | ||
| January 20, 2023 | By: | /s/ Frank D. Heuszel |
| Name: | Frank D. Heuszel | |
| Title: | Chief Executive Officer | |