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CBD Firm Investors Seek First Nod for Patentability Suit Deal

Feb. 1, 2022, 9:49 PM

CV Sciences Inc. investors who say it misled them about the patentability of its cannabidiol product asked a federal judge in Nevada for initial approval of their $712,500 settlement.

The deal follows three years of “hard-fought” litigation and represents more than 3.3% of maximum potential damages, according to a memo the specialty pharmaceutical company’s investors filed as part of their preliminary settlement approval bid in the U.S. District Court for the District of Nevada.

“The risks of further litigation are exacerbated by CV Sciences’ financial position,” the investor memo said. “It is Lead Plaintiff’s understanding that the Company’s ability to ...