Unrivaled Brands, People's California Settle All Litigation

The two companies had been suing each other after Unrivaled acquired People's.

A messy case of legal fingerpointing between two California companies has apparently ended amicably, with both Unrivaled Brands and People’s California agreeing to a settlement, according to a press release.

Although the terms of the settlement were not immediately disclosed, the end result is that both companies will “request a stay of all pending litigation,” according to the release.

The two companies became involved in a legal brawl last year, suing each other over various allegations of breach of contract, fraud, and other supposed misdeeds.

Santa Ana-based Unrivaled Brands (OTCQX: UNRV) acquired People’s California in 2021 for $76 million, a deal which included three existing retail cannabis shops in Southern California and permits for two more that have yet to be built out.

But last July, People’s sued Unrivaled and accused the company of not paying up on the monthly installments that were due under the terms of the deal, alleging Unrivaled was $5 million behind in payments by the time the suit was filed.

Unrivaled countersued a few months later and accused People’s California’s executives of stealing $5 million by manipulating company records.

But now the two companies have mended their fences and will move forward as originally planned.

“We are thrilled to put this months-long legal battle behind us,” Unrivaled CEO Sabas Carrillo said in the release.

“This settlement is a testament to what can be achieved by bringing people together who are motivated to find workable solutions to challenging problems,” Carrillo said. “Importantly, it unlocks our ability to complete the development of additional cannabis retail stores” in Riverside and Costa Mesa.

The release didn’t include a comment from executives at People’s California.

John Schroyer


Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 2 hours

Curaleaf Doubles Down on Utah as Medical Market Grows

@GreenMarketRpt – 8 hours

Lowell Farms Posts $24.6 Million Loss for 2022, But CEO Optimistic

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.