Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

The Company leases office space in various commercial buildings and has other office equipment leases. For the office leases, the Company is also responsible for operating expenses and the leases contain escalation clauses. Rent expense was $470, $100, $295 and $258 for the year ended December 31, 2014, the three months ended December 31, 2013 and the years ended September 30, 2013 and 2012, respectively.

The following is a schedule of future minimum rental payments required under all of the Company’s operating lease agreements for the years ending December 31:

	Amount
	(in thousands)
2015	$	616
2016	644
2017	441
2018	243
2019	—
Thereafter	—
	$	1,944

On October 7, 2014, a putative class action lawsuit alleging violations of federal securities laws was filed in the U.S. District Court for the Northern District of Illinois, naming as defendants the Company and certain of its executive officers. An amended complaint was filed on February 17, 2015. The amended complaint alleges violations of the Securities Exchange Act  of 1934 by the Company and its executive officers for making allegedly materially false and misleading statements and by failing to disclose allegedly material facts regarding its business and operations between June 7, 2013 and September 29, 2014. The plaintiffs seek unspecified monetary damages and other relief. The Company believes the lawsuit is without merit and intends to defend the case vigorously. The Company has until April 27, 2015 to file a motion to dismiss.

In addition, the Company is involved from time to time in legal claims and proceedings that arise in the normal course of its business. Although the results of these legal claims and proceedings cannot be predicted with certainty, the Company currently does not expect that any such legal claims or proceedings will  have a material adverse effect on its cash flows, financial condition or results of operations.

	Amount
	(in thousands)
2015	$	616
2016	644
2017	441
2018	243
2019	—
Thereafter	—
	$	1,944