GETTY REALTY CORP MD
For the period ended Jun 30, 2024. Filed Jul 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 25, 2024
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Legal Proceedings
ITEM 1. LEGAL PROCEEDINGS
Please refer to “Item 3. Legal Proceedings” in our Annual Report on Form 10-K for the year ended December 31, 2023, and to Note 4 in “Part I, Item 1. Financial Statements” in this Quarterly Report on Form 10-Q, for information regarding material pending legal proceedings. Except as set forth therein, there have been no new material legal proceedings and no material developments in any of our previously disclosed legal proceedings reported in our Annual Report on Form 10-K for the year ended December 31, 2023.
Procedural Update on Litigation concerning our former Newark, New Jersey Terminal and the Lower Passaic River:
As previously disclosed, in January 2024, the United States filed a Modified Consent Decree (“Modified CD”) with the United States District Court for the District of New Jersey along with a Motion to Enter the Modified CD. The Court issued an order setting deadlines for responsive briefing to the Motion to Enter the Modified CD, prior to adjudication thereof, with responses due by April 1, 2024, and replies due by May 1, 2024.
Following the Court’s briefing schedule, the parties to the Modified CD filed briefs in support of the Motion, while intervenor parties, including Occidental Chemical Corporation, filed response briefs opposing the Motion, raising multiple legal challenges. Two other potentially responsible parties also filed intervenor response briefs seeking inclusion in the settlement.
As of July 9, 2024, the Court has allowed additional briefing on the applicability of two recent Supreme Court rulings to the issues under consideration. The Court has not provided a timeline for ruling on the pending Motion nor has it indicated whether further briefing and/or a hearing will be scheduled.
We will continue to monitor this litigation’s progress and provide updates as necessary in future filings.
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