Arbitration Award of $352,493 Issued in favor of Livewire |
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Anaheim, CA, March 14, 2022 -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California; today announced that it has been issued an Arbitration Award of $352,493 in favor of Livewire and Hodson. |
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SUPPLEMENTAL INFORMATION: MATERIAL EVENT DATE: March 14, 2022
Arbitration Award of $352,493 Issued in favor of Livewire and Hodson
In 2019, JS Barkats PLLC (“JSB”) initiated an arbitration against the Company and Mr. Hodson before the American Arbitration Association (“AAA”), claiming that LiveWire and Mr. Hodson owed JSB fees pursuant to a November 2015 “Retainer Agreement.” LiveWire and Mr. Hodson counterclaimed for constructive fraud, breach of fiduciary duty, breach of the implied covenant of good faith and fair dealing, and legal malpractice. The details of this legal action have been disclosed in earlier OTC filings and Company press releases. On March 10, 2022, the AAA arbitrator issued an award fully in favor of the Company and Mr. Hodson, finding that they had proven their counterclaims and JSB had failed to prove its own claim. The Arbitrator awarded the Company and Mr. Hodson a total of $352,493.02, including damages and costs of arbitration, and ordered JSB to pay this sum no later than April 24, 2022. The Company and Mr. Hodson will petition the federal court for the Southern District of New York to confirm the AAA award.
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LIVEWIRE ERGOGENICS, INC
1600 North Kraemer Blvd.
Anaheim, CA 92806
714-740-5144
info@livewireergogenics.com
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MARKET AWARENESS
Stockwatchindex, LLC
442-287-8059
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LIVEWIRE INVESTOR RELATIONS
Tristan Cavato
(805) 835-2415
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“You must keep your Mind on the Objective, not the Obstacle.” William Randolph Hearst |
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