CBD Co. Inks $712K Deal To End Investors' Securities Suit

By Sarah Jarvis (February 1, 2022, 6:02 PM EST) -- Investors who accused CBD company CV Sciences Inc. of misleading them about a rejected patent application have reached a tentative $712,500 settlement with the business to end their claims, Nevada federal court documents show.

Lead plaintiff Richard Ina, a trustee of the Ina Family Trust, said in a Monday memorandum supporting his motion for preliminary approval of the settlement that the deal comes after three years of hard-fought litigation. He noted that defendants CV Sciences, CEO Joseph D. Dowling, former CEO Michael Mona Jr. and former Chief Operating Officer Michael Mona III deny any wrongdoing.

"The proposed settlement is well within the...

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