BurgerFi Reaches Legal Settlement Agreement with Lion Point Capital, LP
DENVER, Colo., Jul 26, 2024 (247marketnews.com)- BurgerFi International, Inc. (NASDAQ:BFI) stated that it entered into a Settlement Agreement with Lion Point Capital to resolve all claims between Lion Point and the Company, related to the previously disclosed litigation initiated by Lion Point against the Company.
BurgerFi International agreed to pay Lion Point $1,350,000 in installments and issue Lion Point 300,000 shares of Series A Preferred Shares, without any admission of fault, liability or wrongdoing.
David Heidecorn, BurgerFi’s Chairman of the Board, commented, “We are pleased to be putting this litigation matter with Lion Point firmly behind us. Our intention is to continue to explore strategic alternatives that we believe would be in the best interests of the Company and its stakeholders, as previously disclosed.”
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