RE:Lawsuit This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
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by Mike Caswell
Cresco Labs Inc. has dropped the lawsuit that it filed in the Supreme Court of British Columbia just days ago against Joseph Caltabiano, a co-founder and the president of the company until March 2, 2020. The company had complained that Mr. Caltabiano was using its confidential information for personal gain. Cresco also said that Mr. Caltabiano was interfering with state cannabis licences that were registered in his name.
The end of the suit is contained in a notice of discontinuance that Cresco filed on Thursday, Feb. 4, at the Vancouver courthouse. The notice says nothing about the reason for the abrupt end to the case, but such filings almost always appear when the parties have reached a confidential out-of-court deal. The brief notice ends the case against Mr. Caltabiano and two other defendants: Choice Consolidation Corp. and Ken Amann, who was Cresco's chief financial officer.
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