Delaware court frees former Tilray partners from $13M Marley licensing fee

Thu, Feb 20

Key Points

The Delaware Court of Chancery ruled in favor of three cannabis investment firm founders who were facing a $13 million payment related to a Bob Marley licensing deal.
The founders were released from the $13 million obligation due to an earlier $39.9 million settlement that was court-approved.
Chancellor Kathaleen St. J. McCormick made the determination in the case.
The ruling stated that the founders were not required to pay the $13 million due to the earlier settlement agreement.

The Delaware Court of Chancery ruled this week that a trio of cannabis investment firm founders won’t have to pay nearly $13 million related to a Bob Marley licensing deal, finding that an earlier $39.9 million settlement released them from the obligation.

Chancellor Kathaleen St. J. McCormick determined that a court-approved...

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