Tilray Brands (TLRY) said Wednesday that the Massachusetts Superior Court in Suffolk County dismissed a lawsuit filed by Clement Italume against the company, its subsidiary Hexo, and Robinhood Markets.
Italume alleged Tilray didn't notify shareholders of Hexo's corporate actions in late 2022, and its acquisition of Hexo in 2023, which led to financial losses for shareholders. The plaintiff sought damages of almost $8 million.
The court rejected Italume's allegations and maintained that he couldn't establish credible damages arising from his claims, the company added.
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