KushCo Holdings, Inc. (OTCQX:KSHB) (”KushCo” or the ”Company”), a premier provider of ancillary products and services to the legal cannabis and CBD industries, has announced that a putative shareholder class and derivative action filed on October 1, 2020, in the United States District Court, Central District of California (“the Court”), Case No. 8:20-cv-01904-JLS-KES, against the Company and its directors has been dismissed, bringing the case to an end. Rather than challenge the Company’s and directors’ motions to dismiss the action, the plaintiff stipulated to voluntarily dismiss the case in its entirety.
“We are encouraged by the voluntary dismissal of this lawsuit, and to see the Court close this matter,” said Nick Kovacevich, KushCo’s Co-founder, Chairman, and Chief Executive Officer. “We will continue to defend the Company against what we believe to be meritless allegations, and are pleased to see another litigation come to an end without any payment made to the plaintiff by the Company.”
