litigation
confidence high
sentiment positive
materiality 0.70
Verano amends litigation filings against Vireo, adding claims based on newly discovered communications
Verano Holdings Corp.
- Filed Amended Response and Counterclaim in B.C. Supreme Court against Vireo.
- Added defenses that Vireo withheld correspondence and breached Arrangement Agreement willfully.
- New allegations based on communications Vireo had from its own shareholders and litigation counsel.
- Vireo previously filed for summary trial seeking $860.9M damages; hearing on suitability set for Oct 16-17, 2024.
- Verano originally demanded $14.875M termination fee and $3M expense from failed 2022 merger.