22nd Century Group Inc. (the Company) and Joseph Pandolfino, the former CEO and founder of the Company, have settled all litigation and disputes between the parties.
The details of this settlement have been disclosed by the Company in its filing with the U.S. Securities and Exchange Commission (SEC) of a Current Report on Form 8-K, which is publicly available on the SEC’s EDGAR database on the SEC website.
“As the founder of 22nd Century and as a major stockholder, Joe’s interests are closely aligned with those of other shareholders. We look forward to Joe’s helpful input going forward as a strategic consultant who will be tasked with assisting 22nd Century on special projects such as commercialization of RED SUN, MAGIC and our extraordinary modified risk tobacco products in development – BRAND A and BRAND B,” said Henry Sicignano III, 22nd Century’s CEO and president.
“I am thrilled that all disagreements between me and the Company have been resolved. As a strategic consultant, I look forward to working with Henry and the team to create shareholder value. 22nd Century is a unique company with an important public health mission and I remain dedicated to its success,” Joseph Pandolfino said.