On March 8, 2023, Driver Management Company LLC announced that it has filed a complaint in the Court of Chancery of the State of Delaware against the First Foundation Inc and the Company's board of directors, requesting the Court to 1) declaring the nomination notice is valid, 2) declaring that the Company director breached their fiduciary duties by rejecting driver management's nomination notice, engaging in harassment and intimidation of the nominees, and 3) awarding driver management's their fees, costs, and expenses, including their attorneys' fees and costs, incurred in connection with this action. In addition, Driver Management announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission to be used to solicit votes for the election of its director nominee at the 2023 annual meeting of stockholders.