A legal case among two competing Los Angeles cannabis consulting firms that appeared to be shaping up final year as a really serious courtroom brawl has apparently come to a close.
SIVA Enterprises filed suit final August against Cirrata Ventures and quite a few of the company’s principals, alleging the Cirrata executives stole intellectual home and defamed SIVA CEO Avis Bulbulyan.
Cirrata then filed counterclaims in the fall.
But all the legal claims had been dismissed in January soon after the two sides reached a settlement.
According to court records, the original lawsuit and the counterclaims had been dismissed Jan. 28 in U.S. District Court’s Central District of California.
Bulbulyan, who stated he felt vindicated by the outcome, shared a copy of the settlement agreement with Marijuana Enterprise Day-to-day.
He noted that a provision in the agreement demands Cirrata to dissolve inside 90 days, a deadline Bulbulyan stated is April 22.
But Steve Baghoomian, 1 of the founders of Cirrata and a defendant named in Bulbulyan’s original suit, disputed Bulbulyan’s claim that Cirrata is closing up shop.
“I can assure you Cirrata is not out of company, nor will it be out of company in 90 days,” Baghoomian wrote in an e mail to MJBizDaily.
“I do not know exactly where Avis got this concept. All I can disclose is that we are in discussions with third parties to spin off specific verticals of Cirrata, which by the really nature of these transactions may possibly demand a corporate reorganization.
“Again, to be crystal clear, this does not imply Cirrata is going out of company. Any assertion to the contrary is comical to us.”
Bulbulyan responded: “They have till April 22 to shut it down. Not spin it off into some thing else, not reorganize, but to shut it down. Something brief of that and they’re in breach” of the settlement agreement.
If a breach of the settlement agreement happens, the parties could wind up back in court.
John Schroyer can be reached at [email protected]