litigation
confidence high
sentiment neutral
materiality 0.60
Stewards terminates $20M Hawthorne purchase; settles deposit dispute, recovers $900k
Stewards, Inc.
- Purchase agreement for 196 Shore Road, Chatham, MA (The Hawthorne) terminated; $20M deal off.
- Settlement: escrow returns $900k of $1M deposit to Stewards Real Estate, pays $100k to Swenson.
- Parties agreed to dismiss litigation (2672CV00329) with prejudice after settlement amounts distributed.
- Mutual general releases and no admission of liability; each party bears its own attorneys' fees.
- Company will not acquire the property; no separate early termination penalty stated.