Curaleaf Defends Adjustments to Reef Dispensaries Acquisition

The former owners of Reef Dispensaries are using a lawsuit before the Delaware Court of Chancery to delay paying back millions in post-closing purchase price reductions to Curaleaf Holdings Inc., a lawyer for Curaleaf said Thursday.

The sellers have requested more and more documentation and pursued litigation instead of engaging an independent accountant to resolve all issues bearing on post-closing price adjustments, as required by the 2022 purchase agreement of the smaller, Southwest-based cannabis chain, according to Curaleaf.

Both parties gave the independent accountant the power to resolve those issues, said J. Clayton Athey of Prickett, Jones & Elliott PA ...