Bloom Farms, Cura Partners settle suit cannabis lawsuit

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California-primarily based cannabis firm Bloom Farms settled a defamation lawsuit filed by Oregon’s Cura Partners for an undisclosed sum.

Neither firm would disclose specifics of the settlement of the case filed in January in Alameda County Superior Court in California, according to several news reports.

Cura claimed in the suit that Bloom, an sector rival, had circulated anonymous social media postings about a former chief executive in order to harm Cura’s brand.

The executive, Nitin Khanna, had been accused of sexual assault in 2012. He wasn’t criminally charged but did settle civil claims.

Massachusetts-primarily based Curaleaf announced an agreement in Could to acquire Cura Partners in an all-stock deal for about $950 million.

But the transaction has however to close, and the worth of the deal has plummeted by about 40% in the meantime.

For additional about the lawsuit settlement, click right here.

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