Hexo Corp (TSX: HEXO) (NYSE: HEXO) has apparently settled a lawsuit related to trademark infringement. The settlement comes after the company pursued legal action against a California-based company whom was using the name HEXOCBD to sell CBD products within the US.
The company launched the lawsuit in the Southern District of California against Assi Project Management, LLC, whom was using the trademarked name without permission. The lawsuit was on the grounds of “unfair competition and trademark infringement,” with the company alleging it went against intellectual property rights.
Settlement of the lawsuit is said to include Assi being “permanently enjoined” from using any name, trademark or domain name that contains “HEXO”, with the company also being required to destroy any and all materials that contain reference to the term. The company must also file notice of abandonment for its HEXOCBD trademark application, while also transferring all domain names that it currently owns with the term HEXO within it to Hexo Corp.
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Hexo Corp last traded at $0.66 on the NYSE.
Information for this briefing was found via Sedar and Hexo Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
