EL SEGUNDO, California .– (BUSINESS WIRE) – Past Meat (NASDAQ: BYND), a pacesetter in plant-based meat, as we speak introduced constructive judgment it obtained in its authorized battle with Don Lee Farms, a former co-manufacturer that Past Meat has terminated, after not assembly his requirements for high quality and security. Within the August 27, 2021 ruling, Los Angeles Superior Courtroom Choose Holly J. Fujie upheld Past Meat’s movement for a abstract judgment on Don Lee Farms’ claims for misappropriation of commerce secrets and techniques and unfair competitors. Because of this, these claims won’t be dropped at trial, which is now scheduled for Might 16, 2022.
The court docket’s ruling ends the fictional narrative Don Lee Farms tried to make use of on this case that Past Meat misused Don Lee Farms’ commerce secrets and techniques to make the Past Burger and different merchandise. Past Meat will vigorously defend Don Lee Farms ‘remaining claims towards Past Meat primarily based on Past Meat’s alleged breach of contract and Don Lee Farms’ allegation that the corporate was fraudulently arrange regardless of income from the connection of the events. Past Meat additionally intends to pursue its personal claims towards Don Lee Farms – together with its allegation that Don Lee Farms misused Past Meat’s commerce secrets and techniques to create its personal line of copycat merchandise. Past Meat is demanding tens of millions in damages from Don Lee Farms and its homeowners Donald Goodman, Daniel Goodman and Brandon Goodman.
Past Meat has invested tens of millions of {dollars} in analysis and growth to convey its revolutionary merchandise to customers world wide. Don Lee Farms co-produced Past Meat from 2014 via the spring of 2017 when Past Meat found harmful pathogens at Don Lee Farms’ facility in Mansfield, Texas. Unwilling to danger shopper security, Past Meat ended its relationship with Don Lee Farms. Don Lee Farms retaliated by suing Past Meat in 2017, together with claims of misappropriation of commerce secrets and techniques and unfair competitors. Though Don Lee Farms had no expertise making plant-based meat merchandise, it claimed to personal the processes for making Past Meat’s proprietary plant-based meat merchandise. The court docket has now utterly rejected this declare.
About Past Meat
Past Meat, Inc. (NASDAQ: BYND) is without doubt one of the quickest rising publicly traded meals corporations in the USA, providing a portfolio of revolutionary plant-based proteins produced from easy substances with out GMOs, biotechnological substances, hormones, antibiotics, or ldl cholesterol. Past Meat’s merchandise had been based in 2009 and have the identical style and texture as animal meat whereas being higher for folks and the atmosphere. Past Meat’s branding dedication, Eat What You Love ™ represents a agency perception that there’s a higher strategy to feed our future and that the constructive decisions all of us make, regardless of how small, are large Can have an effect on our private well being and the well being of our planet. By switching from animal meat to vegetable protein, we are able to positively influence 4 rising world issues: human well being, local weather change, pure useful resource restrictions and animal welfare. As of June 2021, Past Meat merchandise had been obtainable in round 119,000 retail and meals service retailers in over 80 international locations worldwide. Go to www.BeyondMeat.com and observe @BeyondMeat, #BeyondBurger and #GoBeyond on Fb, Instagram and Twitter and @BeyondMeatOfficial on TikTok.
Ahead-Trying Statements
Sure statements on this press launch are “forward-looking statements”. These statements are primarily based on administration’s present opinions, expectations, beliefs, plans, objectives, beliefs or projections with respect to future occasions or future outcomes. These forward-looking statements are solely predictions, not historic information and contain sure dangers, uncertainties and assumptions. Precise outcomes, actions, efficiency, achievements and occasions might differ materially from these expressed, anticipated or implied in these forward-looking statements. Whereas Past Meat believes its assumptions are cheap, it is rather troublesome to foretell the consequences of identified components and, in fact, it’s not possible to anticipate the entire components that might have an effect on precise outcomes. There are a lot of dangers and uncertainties that might trigger precise outcomes to vary materially from the forward-looking statements made herein, together with however not restricted to the dangers recognized underneath the heading “Threat Components” within the Firm’s Annual Report on Type 10-Okay for the previous yr Mentioned will likely be December 31, 2020, filed with the SEC on March 1, 2021, and the Firm’s Quarterly Report on Type 10-Q for the quarter ended July 3, 2021, filed with the SEC on August 12 2021, in addition to different components described occasionally in Past Meat’s filings with the SEC. Such forward-looking statements are made solely as of the date of this press launch. Past Meat undertakes no obligation to publicly replace or revise any forward-looking statements because of new data, future occasions or for some other motive, besides as required by legislation. If we replace a number of forward-looking statements, it shouldn’t be inferred that we’re moreover updating these or different forward-looking statements.
