MedMen Wins Lawsuit Against Former CFO
MedMen (MMNFF) just won the lawsuit brought against them by former CFO James Parker. Parker filed suit against MedMen in 2019, alleging wrongful termination and breach of contract. He sought $20 million in damages, but the court has decided in favor of MedMen.
Related: MedMen – Is this Cannabis Stock Making a Comeback?
“The jury agreed with us, ruling in our favor on all claims, and determined we do not owe Parker any damages. We also asserted affirmative claims against Parker. The jury found that Parker breached his contract, his fiduciary duty, his duty of loyalty, misappropriated trade secrets, and committed conversion, but that there was no harm/damage resulting from his misconduct,” the MedMen team stated.
“We are thrilled that the jury concluded that James Parker is not the victim here, but the perpetrator, and that MedMen owes no damages,” said Michael Serruya, MedMen Chairman and Interim CEO. “The false allegations brought by Mr. Parker have grossly misrepresented the environment at MedMen in 2018, and certainly bear no resemblance to the MedMen before us today.”
medmen.com
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