Ecoark Holdings Receives Scheduling Order for Jury Trial in Complaint Against Walmart Inc.
22 Octubre 2020 - 7:00AM
Ecoark Holdings, Inc. ("Ecoark" or the “Company”) (OTC: ZEST),
announced that on October 20, 2020, it received a scheduling order
from a federal judge in the U.S. District Court in the Eastern
District of Arkansas for a jury trial to commence on March 29, 2021
in the Company’s complaint against Walmart Inc. (“Walmart”) (NYSE:
WMT), originally filed in August 2018: Zest Labs, Inc. et. al. v
Walmart, Inc. case number 4:18-cv-500-JM. For further information,
see the press release issued August 1, 2018:
https://www.globenewswire.com/news-release/2018/08/01/1545688/0/en/Ecoark-Holdings-and-Zest-Labs-File-2-Billion-Complaint-Against-Walmart.html.
The complaint is for violation of the Arkansas Trade Secrets Act,
violation of the federal Defend Trade Secrets Act, unfair
competition, unjust enrichment, breach of contract, breach of the
covenant of good faith and fair dealing, conversion and fraud.
From 2015 to late 2017, Zest Labs, a wholly owned subsidiary of
Ecoark, engaged in significant discussions, presentations,
demonstrations, and proof of concept projects with Walmart. Zest
Labs worked with a number of produce growers and demonstrated how
the Zest Fresh solution would improve the consistency of delivered
shelf life and therefore help to reduce shrink. In March 2018,
Walmart publicly announced that, in just six months it had
developed its Eden solution to “keep track of food freshness all
the way from the farms to our stores” and to “eliminate $2 billion
in waste over the next five years.”
“We are excited to have our day in court and have a jury hear
our case, ” said Randy May, Chief Executive Officer of Ecoark.
About Ecoark Holdings, Inc.
Founded in 2011, Ecoark is a diversified holding company. The
company has three wholly owned subsidiaries: Zest Labs, Inc. (“Zest
Labs”), Banner Midstream Corp (“Banner Midstream”) and Trend
Discovery Holdings, Inc. (“Trend Discovery”). Zest Labs, offers the
Zest Fresh™ solution, a breakthrough approach to quality
management of fresh food, is specifically designed to help
substantially reduce the amount of food loss the U.S. experiences
each year. Banner Midstream is engaged in oil and gas exploration,
production, and drilling operations on over 20,000 cumulative acres
of active mineral leases in Texas, Louisiana, and Mississippi.
Banner Midstream also provides transportation and logistics
services to oilfield transportation services contractors. Trend
Discovery invests in a select number of early stage startups as
part of the fund’s venture capital strategy; we are open-minded
investors with a founder-first mentality.
Contact:
Investor Relations:John
MillsICR646-277-1254John.Mills@icrinc.com
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