LegalAug 4, 2026, 04:15 PM
BranchOut Food Settles Lawsuit with Former CFO Doug Durst for $303K
AI Summary
BranchOut Food Inc. entered into a Settlement Agreement and General Release with its former Chief Financial Officer, Doug Durst, and his affiliate, Chase Innovations, Inc., to resolve a lawsuit related to Durst's employment termination. The company will pay Durst $247,500 and Chase Innovations $55,890. Additionally, Durst will receive a warrant to purchase 57,600 shares of common stock at an exercise price of $4.11.
Key Highlights
- BranchOut Food Inc. settled a lawsuit with former CFO Doug Durst and his affiliate, Chase Innovations, Inc.
- The company will pay Doug Durst $247,500 in cash.
- Durst's payment includes an initial $147,500 within 30 days, and five monthly installments of $20,000.
- BranchOut Food will pay Chase Innovations, Inc. $55,890.
- Durst received a warrant to purchase 57,600 shares of common stock.
- The warrant has an exercise price of $4.11 per share and a two-year term.
- The settlement resolves all outstanding claims related to Durst's employment termination.
Price Impact
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