LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Firm”) (CSE: MMEN) (OTCQX: MMNFF), a premier hashish retailer with operations throughout the US, beforehand introduced in November 2021 {that a} jury had utterly exonerated the Firm in a lawsuit introduced by former CFO James Parker. On March 1, 2022, the choose additional ordered that Parker repay MedMen $612,000 in authorized charges that the Firm had beforehand superior to Parker, affirming that Parker was not entitled to such reimbursement because of his materials breach of his employment settlement: “Since Parker materially breached his employment settlement, MME USA was relieved from its development obligations as of the date of the breach,” the choose stated within the order. The choose additional dominated that Parker shouldn’t be entitled to reimbursement of any additional charges or bills from the Firm, following Parker’s request that the Firm reimburse him for a further $1,000,000 of authorized charges.
“We’re happy that, along with being formally and completely exonerated by the jury from the false allegations initially introduced by Mr. Parker, that the choose has now ordered that he repay important charges to the Firm,” stated Michael Serruya, MedMen Chairman and Interim CEO. “As an organization, we’re devoted to responding vigorously to all false claims introduced in opposition to the corporate and can pursue our cures diligently to their conclusion.”
ABOUT MEDMEN:
MedMen is a premier American hashish retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts, and Florida. MedMen provides a strong choice of high-quality merchandise, together with MedMen-owned manufacturers MedMen Purple and LuxLyte by its premium retail shops, proprietary supply service, in addition to curbside and in-store pickup. MedMen Buds, an industry-first loyalty program, gives unique entry to promotions, product drops and content material. MedMen believes {that a} world the place hashish is authorized and controlled is safer, more healthy, and happier. Study extra about MedMen at www.medmen.com.
Cautionary Word Concerning Ahead-Wanting Data and Statements:
This press launch comprises sure “forward-looking info” inside the that means of relevant Canadian securities laws and may include statements which will represent “forward-looking statements” inside the that means of the protected harbor provisions of the US Personal Securities Litigation Reform Act of 1995. Such forward-looking info and forward-looking statements should not consultant of historic info or info or present situation, however as an alternative signify solely MedMen’s beliefs concerning future occasions, plans or aims, a lot of which, by their nature, are inherently unsure and outdoors of MedMen’s management. Usually, such forward-looking info or forward-looking statements might be recognized by way of forward-looking terminology similar to “put this chapter to relaxation” and “focus wholly on taking.” This forward-looking info is predicated on sure assumptions made by administration and different components utilized by administration in creating such info. A wide range of components, together with recognized and unknown dangers, a lot of that are past the Firm’s management, might trigger precise outcomes to vary materially from the forward-looking info and statements on this press launch.
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