Limoneira CO 8-K, filed Apr 24, 2023
Limoneira CO (LMNR)
About this 8-K
Limoneira CO filed this 8-K on April 24, 2023, reporting on events of April 18, 2023.
Items reported
- Item 1.01: Entered into a material agreement
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On April 18, 2023, Limoneira Company (the “Company”) entered into a Confidential Settlement Agreement and Release (the “Settlement Agreement”) with Southern California Edison Company (“SCE”) and Edison International (together with SCE, “Edison”) to formally resolve any and all claims between the Company and Edison for damages relating to the Southern California wildfires known as the Thomas Fire and the Koenigstein Fire (together the “Fire”), which ignited on December 4, 2017 in two separate locations near the Cities of Ojai and Santa Paula, California. The Company alleged that the electric facilities owned and operated by Edison caused or contributed to the ignition of the Fire, and as a result, the Company suffered damages. Under the terms of the Settlement Agreement, the Company will receive a total settlement of $9,000,000 (the “Total Settlement Amount”). The Company expects to receive approximately 68% of the Total Settlement Amount, net of legal and related costs.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: April 24, 2023 | LIMONEIRA COMPANY | |
| By: | /s/ Mark Palamountain | |
| Mark Palamountain | ||
| Chief Financial Officer and Treasurer | ||