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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.
Posted In: SGBX
