GrowX, Inc. Announces Resolution of Company Control Dispute
Oakland, CA, January 7, 2019 Press Release -- GrowX, Inc. (“GrowX”) today announced the resolution and dismissal of litigation in the Delaware Court of Chancery involving its founding shareholders and members of the board of directors concerning the composition of the company’s board and management and related issues.
As part of the settlement, John-Paul (JP) Martin voluntarily has resigned from his positions as chief executive officer and a member of the board. Although no longer involved in the management of GrowX, JP Martin will remain a shareholder and continue to support the company’s current board and management, including Darwin Hunt, Ben Larson and William Warren as members of the board of directors, and William Warren as chief executive officer.
The settlement is a compromise of disputed claims, and the parties have not admitted any liability or the validity of any defense in the litigation.
GrowX, headquartered in Oakland, California, is an agricultural technology company developing high-efficiency, aeroponics based, indoor vertical farming systems for high-light intensity fruiting and flowering crops. For further information please visit the company’s website at www.growx.io.
Source: GrowX, Inc.