Details of the settlement remain undisclosed.
A lawsuit involving Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) and Docklight Brands regarding a Bob Marley-branded cannabis product deal in Canada has been resolved and dismissed by a federal judge.
U.S. District Judge Tana Lin in Washington state ruled that the case be dropped without any side having to pay the other’s legal fees, according to Law360.
Financial details of the settlement were not undisclosed.
In 2018, Docklight entered a deal with High Park Holdings, a subsidiary of Tilray, to market cannabis products with the late Bob Marley’s estate and its company, Marley Green. Trouble surfaced when High Park ceased its scheduled payments after Tilray’s merger with Aphria Inc.
High Park reasoned the halt on payments was due to new management familiarizing themselves with the agreement, but Docklight contested this claim, stating Tilray’s management was already aware of the deal pre-merger.
Docklight further alleged that despite strong sales, Tilray deemed the license too costly and proposed walking away unless concessions were made. The company also accused High Park of mismanaging their contractual obligations, which led to Docklight’s inability to pay licensing fees to the Marley estate. That resulted in the estate terminating its license in April.
Tilray and High Park then countered Docklight’s allegations by accusing the Seattle-based company of violating terms of their initial agreement.
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