Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 67

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 67
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 intentional interference with contractual relations, intentional interference with prospective economic advantage, and fraud in the inducement of contract. Plaintiff sought a trial by jury and relief in the form of a permanent injunction for use of “Steep Coffee” or any confusingly similar variant of “STEEPED COFFEE”; the impoundment and destruction of allegedly violating packaging materials and/or finished goods; a final judgment for all profits derived from the Company’s allegedly unlawful conduct, actual damages, damages to the Steeped’s reputation and goodwill among its customers and partners; and reasonable attorneys’ fees and costs. The Company answered the Complaint with a general denial and asserted twenty-five affirmative defenses.

On January 16, 2024, without a finding or admission of wrongdoing, the Company entered into a settlement agreement with Steeped. In exchange for mutual releases and a dismissal of the lawsuit with prejudice, the Company paid Steeped $500,000. Steeped filed a Notice of Settlement on January 30, 2024, and on April 18, 2024, the case was dismissed. On June 19, 2024, both parties officially signed the “SETTLEMENT AGREEMENT AND MUTUAL RELEASE”, the Company paid Steeped $500,000.

Curtin Litigation

As previously disclosed, on January 6, 2023, a former employee of the Company, Rosalina Curtin filed a complaint against the Company and another former employee of the Company, Jose Ramirez, in the Superior Court of California, County of San Diego (Case No. 37-2023-00000841-CU-WT-NC) (the “Complaint”). The Complaint alleged that Ms. Curtin was subject to harassment by Mr. Ramirez, gender discrimination throughout her employment, that she reported this discrimination and harassment to the Company, and that the Company retaliated against her and wrongfully terminated her for whistleblowing and failed to prevent discrimination, harassment, and retaliation. Ms. Curtin sought compensatory damages, including loss of past, present and future earnings, and benefits, as well as punitive damages, penalties, attorney’s fees and costs and interest. Pursuant to the terms of Ms. Curtin’s Employment Agreement with the Company, on December 22, 2023, the Court compelled the case to arbitration with the American Arbitration Association (Case Number 01-24-0002-3225).

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On November 8, 2024, without a finding or admission