GrowLife, Inc. (OTCMKTS: PHOT) announced today that on February 9, 2015,
the Company and plaintiff’s counsel filed a Notice of Proposed
Settlement with the Court presiding over the Consolidated Class Action
lawsuits filed in 2014. The parties expect to file Notices of Proposed
Settlement in the Court presiding over the Derivative Actions during
February, 2015. The Company anticipates that the settlements will be
documented and any necessary motions for Court approval of the
settlements will be filed within the next 45 days.
For more information about GrowLife, please visit: www.growlifeinc.com.
Additional commentary on the Company as well as the industry is also
provided on Mr.
Hegyi’s blog.
About GrowLife, Inc.
GrowLife, Inc. (PHOT)
(www.growlifeinc.com)
aims to become the nation’s largest cultivation service provider for
cultivating organics, herbs and greens and plant-based medicines. Our
mission is to best serve more cultivators in the design, build-out and
expansion of their facilities with products of high quality, exceptional
value and competitive price. Through a nationwide network of local
representative, regional centers and its e-Commerce team, GrowLife
provides essential goods and services including media (farming soil),
industry-leading hydroponics equipment, plant nutrients, and thousands
more products to specialty grow operations in 17 states. GrowLife is
headquartered in Seattle, WA and was founded in 2012.
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include
information relating to future events and future financial and operating
performance. The words "may," "would," "will," "expect," "estimate,"
"can," "believe," "potential" and similar expressions and variations
thereof are intended to identify forward-looking statements.
Forward-looking statements should not be read as a guarantee of future
performance or results, and will not necessarily be accurate indications
of the times at, or by, which that performance or those results will be
achieved. Forward-looking statements are based on information available
at the time they are made and/or management's good faith belief as of
that time with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to differ
materially from those expressed in or suggested by the forward-looking
statements. Important factors that could cause these differences
include, but are not limited to: fluctuations in demand for GrowLife's
products, the introduction of new products, the Company's ability to
maintain customer and strategic business relationships, the impact of
competitive products and pricing, growth in targeted markets, the
adequacy of the Company's liquidity and financial strength to support
its growth, and other information that may be detailed from time-to-time
in GrowLife's filings with the United States Securities and Exchange
Commission. Examples of such forward-looking statements in this release
include statements regarding future sales, costs and market acceptance
of products as well as regulatory actions at the State or Federal level.
For a more detailed description of the risk factors and uncertainties
affecting GrowLife, Inc. please refer to the Company's Securities and
Exchange Commission filings, which are available at www.sec.gov.
GrowLife, Inc. undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Copyright Business Wire 2015