Item 8.01 Other Events.
On July 21, 2022, Array Technologies, Inc. (the "Company" or "Array") issued a
press release (the "Press Release") announcing that, on July 15, 2022, it had
agreed to binding settlement terms in connection with its claims filed in the
U.S. District Court for the District of New Mexico, Case No.
1:17-cv-00087-JCH-LF (the "Case") against Nextracker LLC, Daniel S. Shugar,
Marco Garcia, Flextronics International U.S.A., Inc., Scott Graybeal and Colin
Mitchell (collectively "Defendants") asserting (among other claims) trade secret
misappropriation, tortious interference with contract, and breach of contract.
The Press Release was issued as a joint press release on behalf of Array and the
Defendants per the terms of the Settlement, and a copy is included as Exhibit
99.1 of this report.
The Settlement provides for, among other things, a payment of $42,750,000 to be
made by Defendants to Array in resolution of the Company's claims and a mutual
limited release of all claims asserted, or that could have been asserted, in
connection with the Case.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of this report:
Exhibit
# Exhibit Title or Description
99.1 Joint P ress Release of Array Technologies, Inc. and the
Defendants, dated July 21, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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