CBD Co.'s Deal OK'd In Shareholder Insider Trading Suit

Law360 (July 7, 2020, 9:57 PM EDT) — A Maryland federal judge has approved a deal reached between shareholders and a CBD company in a suit alleging the company lied about plans to manufacture a CBD drink and reaped more than $800,000 through insider trading.

U.S. District Judge Deborah K. Chasanow said in Monday’s opinion that the settlement the shareholders and India Globalization Capital Inc. proposed last month includes “significant” corporate governance reforms that will benefit all shareholders, noting that no objections to the settlement have been lodged with the court.

The settlement includes stricter independence requirements for IGC’s board of directors, the creation of a disclosure committee and…

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