{"id":452880,"date":"2021-03-08T12:15:18","date_gmt":"2021-03-08T17:15:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452880"},"modified":"2021-03-08T12:15:18","modified_gmt":"2021-03-08T17:15:18","slug":"cbdmd-inc-announces-order-by-court-staying-california-litigation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cbdmd-inc-announces-order-by-court-staying-california-litigation\/","title":{"rendered":"cbdMD, Inc. Announces Order by Court Staying California Litigation"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>cbdMD, Inc. Announces Order by Court Staying California Litigation<\/b><\/p>\n<p>CHARLOTTE, N.C.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\ncbdMD, Inc. (<i>NYSE American: YCBD, YCBDpA)<\/i>, one of the nation\u2019s leading and most highly trusted and recognized cannabidiol (CBD) brands, announced today that the judge in the California class action lawsuit in which cbdMD, Inc. was named a defendant has granted its motion and stayed the action until the U.S. Food and Drug Administration completes its rulemaking and\/or Congress passes legislation regarding the definitions, marketing, and labeling of CBD products. During the stay, the case is administratively closed.\n<\/p>\n<p>\nAs previously reported by cbdMD, Inc., in December 2019 plaintiffs filed a purported collective and class action lawsuit in the United States District Court for the Central District of California against cbdMD, Inc. and certain of our competitors alleging violations of the California\u2019s Unfair Competition Law, California\u2019s False Advertising Law and California\u2019s Consumer Legal Remedies Act, as well as claims for breach of express warranties, breach of implied warranty of merchantability and declaratory relief. The complaint was brought as a nationwide \u201ccollective action,\u201d and, alternatively, as a \u201cclass action\u201d under the laws of the State of California. The Court\u2019s ruling was in response to cbdMD, Inc.\u2019s motion for dismissal and or stay filed in April 2020. While the litigation is stayed, the parties are directed to file a joint status report every 90 days, beginning on June 1, 2021.\n<\/p>\n<p><b>About cbdMD, Inc.<\/b><\/p>\n<p>\ncbdMD, Inc. is one of the leading, most highly trusted, and most recognized cannabidiol (CBD) brands, whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bath bombs and CBD pet products. To learn more about cbdMD and our comprehensive line of over 130 SKUs of U.S. produced, Non-THC<sup>1 <\/sup>CBD products, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.cbdmd.com%2F&amp;esheet=52392445&amp;newsitemid=20210308005709&amp;lan=en-US&amp;anchor=www.cbdMD.com&amp;index=1&amp;md5=9a8056bfc73a83e70f3a9bb0bcb5f8ba\">www.cbdMD.com<\/a>, follow cbdMD on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Fcbdmd.usa&amp;esheet=52392445&amp;newsitemid=20210308005709&amp;lan=en-US&amp;anchor=Instagram&amp;index=2&amp;md5=afe713bf567442d22ed18b00d7af9c7c\">Instagram<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2Fcbdmd.usa%2F&amp;esheet=52392445&amp;newsitemid=20210308005709&amp;lan=en-US&amp;anchor=Facebook&amp;index=3&amp;md5=aa89859feda986d6d11858459de69858\">Facebook<\/a>, or visit one of the 6,000 retail outlets that carry cbdMD and Paw CBD products.\n<\/p>\n<p><sup>1<\/sup> Non-THC is defined as below the level of detection using validated scientific analytical tools.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as &#8221;should,&#8221; &#8221;may,&#8221; &#8221;intends,&#8221; &#8221;anticipates,&#8221; &#8221;believes,&#8221; &#8221;estimates,&#8221; &#8221;projects,&#8221; &#8221;forecasts,&#8221; &#8221;expects,&#8221; &#8221;plans,&#8221; and &#8221;proposes.&#8221; These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading &#8220;Risk Factors&#8221; in cbdMD, Inc.&#8217;s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 as filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on December 22, 2020, Item 1A. Risk Factors, contained in our Quarterly Report on Form 10-Q for the period ended December 31, 2020 as filed with the SEC on February 9, 2021 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210308005709r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210308005709\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210308005709\/en\/<\/a><\/span><\/p>\n<p>\nInvestors:<br \/>\n<br \/>cbdMD, Inc.<br \/>\n<br \/>John Weston<br \/>\n<br \/>Director of Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:John.Weston@cbdMD.com\">John.Weston@cbdMD.com<br \/>\n<\/a><br \/>(704) 249-9515\n<\/p>\n<p><b>KEYWORDS:<\/b> California North Carolina United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Health Retail Tobacco Pharmaceutical Specialty<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210308005709\/en\/697136\/3\/cbdmd1.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>cbdMD, Inc. Announces Order by Court Staying California Litigation CHARLOTTE, N.C.&#8211;(BUSINESS WIRE)&#8211; cbdMD, Inc. (NYSE American: YCBD, YCBDpA), one of the nation\u2019s leading and most highly trusted and recognized cannabidiol (CBD) brands, announced today that the judge in the California class action lawsuit in which cbdMD, Inc. was named a defendant has granted its motion and stayed the action until the U.S. Food and Drug Administration completes its rulemaking and\/or Congress passes legislation regarding the definitions, marketing, and labeling of CBD products. During the stay, the case is administratively closed. As previously reported by cbdMD, Inc., in December 2019 plaintiffs filed a purported collective and class action lawsuit in the United States District Court for the Central District of California &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cbdmd-inc-announces-order-by-court-staying-california-litigation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;cbdMD, Inc. Announces Order by Court Staying California Litigation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452880","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>cbdMD, Inc. Announces Order by Court Staying California Litigation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cbdmd-inc-announces-order-by-court-staying-california-litigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"cbdMD, Inc. Announces Order by Court Staying California Litigation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"cbdMD, Inc. Announces Order by Court Staying California Litigation CHARLOTTE, N.C.&#8211;(BUSINESS WIRE)&#8211; cbdMD, Inc. (NYSE American: YCBD, YCBDpA), one of the nation\u2019s leading and most highly trusted and recognized cannabidiol (CBD) brands, announced today that the judge in the California class action lawsuit in which cbdMD, Inc. was named a defendant has granted its motion and stayed the action until the U.S. Food and Drug Administration completes its rulemaking and\/or Congress passes legislation regarding the definitions, marketing, and labeling of CBD products. During the stay, the case is administratively closed. As previously reported by cbdMD, Inc., in December 2019 plaintiffs filed a purported collective and class action lawsuit in the United States District Court for the Central District of California &hellip; Continue reading &quot;cbdMD, Inc. 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