– Filing reflects Company’s belief that Verano’s defense against claims of unlawful conduct is without merit –MINNEAPOLIS, May 02, 2024 — Goodness Growth Holdings, Inc. , today announced that it has filed an application with the Supreme Court of British Columbia for summary determination in its ongoing litigation with Verano Holdings, Inc.
As previously disclosed, on October 14, 2022, Verano delivered a Notice of Termination of the Arrangement Agreement to Goodness Growth. Goodness Growth subsequently filed a notice of civil claim against Verano with the Supreme Court of British Columbia on October 21, 2022. Goodness Growth is seeking substantial damages, specifically US $860.9 million, as well as other costs and legal fees, based on Verano’s breach of contract and of its duty of good faith and honest performance.
Chief Executive Officer Josh Rosen commented, “I stepped into my role at a vulnerable time for Goodness Growth, in the aftermath of Verano’s termination of our merger agreement. As I have said before, we view this litigation as a valuable asset of Goodness Growth. Our filing today reflects our ongoing commitment to protecting and realizing it.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.
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