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Commitments and Contingencies
3 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Commitments and Contingencies

Legal Matters

 

We are, from time to time, involved in various legal proceedings incidental to the conduct of our business. Historically, the outcome of all such legal proceedings has not, in the aggregate, had a material adverse effect on our business, financial condition, results of operations or liquidity.  Other than as set forth below, there are no additional pending or threatened legal proceedings at this time.

 

Lazar Leybovich et al. v. SecureAlert, Inc.  On March 29, 2012, Lazar Leybovich, Dovie Leybovich and Ben Leybovich filed a complaint in the 11th Circuit Court in and for Miami-Dade County, Florida alleging breach of contract with regard to certain Stock Redemption Agreements.  The complaint was subsequently withdrawn by the plaintiffs.  An amended complaint was filed by the plaintiffs on November 15, 2012.  The plaintiffs claim in excess of $460,000 in damages.  The Company believes these allegations are inaccurate and intend to defend the case vigorously. No accrual for a potential loss has been made as management believes the probability of incurring a material loss is remote.  

 

Boggs et al. v. Judicial Electronic Monitoring, SecureAlert, Inc. et al.  On December 3, 2015, Candace Boggs et al. filed a complaint in the State Court of Dougherty County, Georgia, alleging breach of contract breach of contract and negligence in monitoring of certain offenders in Dougherty County, Georgia, as well as a request for punitive damages. We believe the allegations are inaccurate and are defending the case vigorously. We believe the probability of incurring a material loss to be remote.