Recently, an investor sued Tilray Brands Inc. (NASDAQ: TLRY) by alleging the Canadian pharmaceutical and cannabis company and popular cannabis stock “breaches of fiduciary duties, unjust enrichment, and waste of corporate assets, and violations of the Securities Exchange Act of 1934,” per the lawsuit.
Tilray, however, recently received approval from Delaware's Court Of Chancery for a $39.9M settlement that would resolve the shareholder derivative suit and award $6.5M in fees and expenses to the plaintiffs' attorneys, reported Law 360.
Background
According to the suit, the first category of false statements was related to the value of Tilray’s inventory and its gross <a …