Safe & Green Holdings Announces Final Resolution of Litigation Between SG Blocks and EDI International/PVE
Rhea-AI Summary
Safe & Green Holdings (NASDAQ: SGBX) announced that its subsidiary, SG Blocks, has reached a definitive settlement agreement with EDI International, PC and PVE, LLC, resolving all outstanding litigation and appeals between the parties.
The settlement agreement, executed on September 11, 2025, requires EDI/PVE to pay SG Blocks an undisclosed amount to settle matters related to the Los Angeles Superior Court Case No. 19STCV21725. Upon payment, SG Blocks will file an acknowledgment of satisfaction of judgment, and both parties will dismiss pending appeals with prejudice.
The agreement includes mutual releases of all claims, providing closure to the long-running litigation while strengthening the company's balance sheet.
Positive
- Settlement agreement resolves all outstanding litigation and eliminates legal uncertainty
- Company will receive monetary compensation from EDI/PVE
- Elimination of ongoing legal costs
- Settlement strengthens company's balance sheet
Negative
- None.
News Market Reaction – SGBX
On the day this news was published, SGBX gained 2.69%, reflecting a moderate positive market reaction. Argus tracked a peak move of +60.9% during that session. Argus tracked a trough of -9.7% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $106K to the company's valuation, bringing the market cap to $4M at that time.
Data tracked by StockTitan Argus on the day of publication.
Miami, Florida--(Newsfile Corp. - September 25, 2025) - Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green," or the "Company"), today announced that its subsidiary, SG Blocks, Inc., has reached a definitive settlement agreement with EDI International, PC and PVE, LLC (collectively, "EDI/PVE"), providing a final resolution to all outstanding litigation and appeals between the parties.
Under the terms of the Settlement and Release Agreement, fully executed on September 11, 2025, EDI/PVE has agreed to pay SG Blocks an undisclosed amount in full settlement of the matters related to SG Blocks, Inc. v. EDI International PC, et al., Los Angeles Superior Court Case No. 19STCV21725. Upon receipt of full payment, SG Blocks will file an acknowledgment of satisfaction of judgment and both parties will dismiss all pending appeals with prejudice.
The agreement provides for mutual releases of all claims, bringing full and final closure to the long-running litigation and eliminating uncertainty around the case.
"We are pleased to bring this matter to a successful conclusion, delivering a significant recovery for SG Blocks while allowing us to fully focus on advancing our core operations," said Mike Mclaren, CEO of Safe & Green Holdings. "This settlement delivers a final resolution, strengthens our balance sheet, and positions us to continue executing on growth initiatives across our modular construction and sustainable development businesses."
This announcement follows prior public updates provided since December 2024 regarding the progress of the case. With this settlement, Safe & Green Holdings has demonstrated a consistent commitment to keeping shareholders informed and has now secured a favorable and final resolution that eliminates ongoing legal costs and provides immediate financial benefit.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp. (NASDAQ: SGBX) is a modular solutions company that specializes in the design, manufacture, and delivery of environmentally sustainable projects. Through its subsidiaries, the Company delivers innovative solutions in modular construction, real estate development, and sustainable operations. For more information, please visit: www.safeandgreenholdings.com.
Forward-Looking Statements
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. 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 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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267857
FAQ
What is the settlement agreement between Safe & Green Holdings (SGBX) and EDI/PVE?
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When will the SGBX litigation settlement be completed?
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