After vowing to do so, Minnesota-based Goodness Growth Holdings filed a notice of civil claim seeking unspecified damages after multistate marijuana operator Verano Holdings Corp. terminated their acquisition deal.
Chicago-headquartered Verano had signed a definitive agreement on Feb. 1 to acquire Goodness Growth for roughly $413 million but then said on Oct. 14 it was backing out of the agreement.
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In the Oct. 21 notice of civil claim – filed with the Supreme Court of British Columbia to start a lawsuit – Goodness Growth reiterated what it alleged after the acquisition was terminated: The deal was scrapped after it refused a lower price from Verano for all of the outstanding shares of the company.
Verano alleges Goodness Growth “breached covenants” and that it is owed millions in termination fees.
Neither Verano nor Goodness Growth responded to MJBizDaily requests for comment on Monday.
According to the claim:
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