Safe and Green Holdings Receives Court-Ordered Award of More Than $1.1 Million for Attorney’s Fees and Costs as Part of EDI Litigation

Rhea-AI Summary

Safe & Green Holdings (NASDAQ: SGBX) has been awarded approximately $1.157 million in attorney's fees and costs by court order in its litigation against EDI International. This award comes in addition to a previous $1.274 million jury verdict in favor of the company. Both the attorney's fees award and the jury verdict remain subject to appeal. The company, which specializes in developing, designing, and fabricating modular structures for critical infrastructure, views this court-ordered award as further validation of their case against EDI, according to CEO Mike McLaren.

Positive

• Court-ordered award of $1.157 million for attorney's fees and costs
• Previous jury verdict of $1.274 million in favor of the company
• Total potential recovery of approximately $2.431 million from the litigation

Negative

• Both the attorney's fees award and jury verdict remain subject to appeal
• Ongoing litigation costs and uncertainty until appeal process is completed

MIAMI, FL, June 04, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures diversified platform transforming critical infrastructure through sustainable modular innovation, announces it has received a court ordered award for approximately $1.157 million to cover attorney’s fees and costs associated with its litigation against EDI International. This is in addition to the jury verdict in favor of the Company of $1.274 million. The order for attorneys’ fees and costs, as well as the jury verdict for damages remain subject to appeal. 

Mike McLaren, Safe and Green Holdings Chairman and CEO commented, “This court-ordered award is further validation of our case against EDI. We are gratified to the judge for this award and will continue to update our shareholders as additional progress is made.”

About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.

Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the acquisition of assets of Sherman Oil Company, LLC and several affiliate individuals and entities that total 1,600 acres of oil wells and leases. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the court order for attorneys’ fees and costs and the jury verdict for damages remain intact on appeal, the Company’s ability to successfully collect on the judgment and court ordered award of fees and costs, the effect of government regulation, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Investor Relations:
CORE IR
516 222 2560
investors@safeandgreenholdings.com

FAQ

How much was Safe & Green Holdings (SGBX) awarded in attorney's fees in the EDI litigation?

Safe & Green Holdings was awarded approximately $1.157 million in attorney's fees and costs by court order.

What is the total amount SGBX could receive from the EDI litigation?

The total potential recovery is approximately $2.431 million, combining the $1.157 million attorney's fees award and the $1.274 million jury verdict.

Are the court awards for SGBX vs EDI International final?

No, both the attorney's fees award and the jury verdict remain subject to appeal.

What does Safe & Green Holdings (SGBX) do as a company?

Safe & Green Holdings is a developer, designer, and fabricator of modular structures focused on transforming critical infrastructure through sustainable modular innovation.