Blum Holdings, Inc. announced on February 24, 2025, that it has reached a global settlement with People’s California, LLC. This agreement extinguishes over two and a half years of litigation between the parties.
The settlement includes mutual releases and the dismissal of eight specific lawsuits with prejudice, notably a $23 million breach of contract action. People's California will also support the Debtor's Chapter 11 plan.
This resolution is a significant milestone in the company's restructuring efforts, aiming to provide greater clarity and stability for all stakeholders. The settlement is subject to definitive documentation and court approval.
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