Nutribrand wins lawsuit, recovers 15% of its shares

Nutriband, a pharmaceutical company that creates products to curb opioid abuse, has won a lawsuit allowing it to recover 15 percent of total outstanding company shares. 

Nutriband filed a lawsuit in 2017 to rescind its acquisition of Advanced Health Brands. The court allowed for the recovery of 4.8 million shares of Nutribrand, which were issued in 2017. A reverse stock split in 2018 has merged those shares into 1.2 million shares.

Those 1.2 million shares amount to 15 percent of Nutriband, according to a July 15 company news release.

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