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A federal judge has agreed to dismiss with prejudice a lawsuit brought by Trulieve, Florida's largest medical marijuana company, against its former chief financial officer. The suit accused him of misusing hundreds of thousands of dollars of company funds. This decision follows a settlement agreement between both parties.

Trulieve Settles Suit Against Ex-CFO : Settlement Reached

Trulieve and Alexander D'Amico, the company's former CFO, reached a settlement that ended the company's legal claims. According to a joint motion filed for dismissal, U.S. District Judge William Stafford approved the motion on Tuesday. The settlement terms remain confidential, but both sides agreed to cover their own legal fees.

Background of the Case

The complaint, lodged in the Northern District of Florida in March, did not specify the exact amount D'Amico was alleged to have taken. However, in August 2023, Trulieve informed its investors that an internal audit suggested the amount could range between $350,000 and $400,000 over D'Amico's four-year tenure at the company.

Trulieve Settles Suit Against Ex-CFO : Legal Representation

Trulieve was represented by attorneys Glenn Burhans Jr., Melanie R. Leitman, and Christopher R. Clark of Stearns Weaver Miller Weissler Alhadeff & Sitterson PA. Alexander D'Amico was represented by Ryan M. Magee and Mark M. Makhail of McCarter & English LLP.

Implications of the Settlement

The settlement between Trulieve and its former CFO, Alexander D'Amico, puts an end to the legal battle that has likely been a significant distraction for both parties. With the case settled, Trulieve can now focus on its core business operations and future growth.