In a legal saga reminiscent of a high-stakes poker game, a lawsuit involving a Texas-based cannabis firm, RefineX LLC, has reached a dramatic conclusion in the Colorado federal court. The legal battle revolved around allegations that a contractual agreement was breached, equipment mysteriously vanished, and confidential information was exposed.
Cannabis Firm Suit Over THC Deal : Settlement Unveiled
RefineX LLC, a prominent player in the cannabis industry, announced a groundbreaking settlement on Tuesday. The lawsuit, which had kept the industry on edge, was settled after RefineX accused three companies and two individuals of violating an exclusive contract. The deal pertained to the installation and operation of equipment for producing THC-free distillate.
Contractual Disarray
The lawsuit initially erupted from RefineX’s claims that TG Tech Holdings LLC, the equipment provider, failed to meet the detection levels outlined in their October 2019 agreement. Furthermore, TG Tech Holdings LLC was unable to fulfill a minimum monthly production quota of 30,000 liters.
