Jushi Holdings Inc. Settles Lawsuit with Large Multi-State Operator
BOCA RATON, Fla., Aug. 08, 2022 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it entered into a confidential settlement agreement with Curaleaf Holdings, Inc. (“Curaleaf”) and with Jushi’s former Chief Financial Officer, Edward Kremer (“Mr. Kremer”), to resolve claims Jushi asserted in a lawsuit filed on July 15, 2022, including a claim asserted against Mr. Kremer for breach of his employment agreement and a claim asserted against Curaleaf for tortious interference. Under the terms of the settlement agreement: 1) Mr. Kremer has reaffirmed and agreed to abide by his other continuing obligations to Jushi under the terms of his employment agreement in exchange for a limited waiver of his non-compete to allow him to accept employment with Curaleaf, and 2) Curaleaf has made certain commitments to strengthen the commercial relationship between Jushi and Curaleaf.
We are pleased to resolve this matter promptly and reach an amicable agreement which strengthens our commercial relationship with Curaleaf.
Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi Holdings Inc
This agreement strengthens some of our core markets and gives us access to an even greater group of consumers across our footprint.
About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels, Instagram, Facebook, Twitter, and LinkedIn.