LOS ANGELES-(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a leading cannabis retailer operating across the United States, previously announced in November 2021 that a jury had completely cleared the Company in a lawsuit brought by former chief financial officer James Parker. On March 1, 2022, the judge further ordered Parker to reimburse MedMen for $612,000 in legal fees the company previously advanced to Parker, saying Parker was not entitled to such reimbursement due to its material breach. of her employment agreement: “Since Parker has materially breached her employment agreement, MME USA has been released from her obligations for advancement effective the date of the breach,” the judge said in the order. The judge further ruled that Parker was not entitled to reimbursement of any other costs or expenses from the company, following Parker’s request that the company reimburse him for an additional $1,000,000 in legal fees.
“We are delighted that in addition to being formally and fully exonerated by the jury of the false allegations originally made by Mr. Parker, the judge has now ordered that he reimburse significant costs to the company,” said Michael Serruya , President of MedMen. and interim CEO. “As a company, we are committed to responding vigorously to all false allegations made against the company and will pursue our remedies diligently until they are concluded.”
MedMen is a leading US cannabis retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts and Florida. MedMen offers a robust selection of high-quality products, including MedMen-owned MedMen Red and LuxLyte brands, through its premium retail stores, exclusive delivery service, as well as curbside pickup. and in store. MedMen Buds, an industry-first loyalty program, provides exclusive access to promotions, product discounts and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier and happier. Learn more about MedMen at www.medmen.com.
Caution Regarding Forward-Looking Information and Statements:
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act. . of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or of current condition, but represent only MedMen’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain. and beyond MedMen’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “put this chapter to rest” and “focus entirely on taking”. This forward-looking information is based on certain assumptions made by management and other factors used by management in preparing such information. A variety of factors, including known and unknown risks, many of which are beyond the Company’s control, could cause actual results to differ materially from the forward-looking information and statements contained in this press release.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and MedMen does not undertake to update any forward-looking information and/or forward-looking statements contained or referenced herein, except in accordance with applicable securities laws.
The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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