Canadian Marijuana Giant Tilray Being Sued For Dropping Out Of Bob Marley Licensing Deal
Portfolio Pulse from Nina Zdinjak
Tilray Brands (NASDAQ:TLRY) is being sued by Docklight Brands Inc. for dropping out of the Bob Marley cannabis products licensing deal, resulting in lost licensing fees, royalties, and the termination of the Bob Marley license. Tilray's subsidiary High Park Holdings stopped making quarterly payments after the merger with Aphria in 2021.
June 02, 2023 | 4:16 pm
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Tilray is being sued by Docklight Brands for dropping out of the Bob Marley cannabis licensing deal, leading to lost fees, royalties, and license termination.
The lawsuit against Tilray could have a negative short-term impact on the company's stock price. Legal disputes often create uncertainty and can lead to financial losses, reputational damage, and potential loss of business opportunities. In this case, the termination of the Bob Marley license could also impact Tilray's product offerings and revenue.
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