Last November we covered the settlement reached between Youngevity and Wakaya Perfection.
At the time details of the settlement were not available.
A transcript of proceedings held on November 10th was made public on January 15th.
Inside the transcript details of the agreement reached between the parties are revealed.
As read out by the court, the terms of agreement between Youngevity and Wakaya Perfection are as follows:
The basic terms are that $1 million will be paid to Youngevity. This is based on:
The dismissal of all claims by Youngevity against Wakaya, Smith and Gardener.
The dismissal of the two Prop 65 cases, which will be in a separate settlement term sheet.
The dismissal of the Muscadine lawsuit in Utah.
The dismissal of the Wakaya client — claims against Youngevity.
The dismissal of the Smith claims against Youngevity.
Wakaya to tender the domain names that are going to be laid out in the term sheet.
Wakaya is not to sell of promote M20 or any product that uses it.
There will be a mutual non-disparagement clause and the clause — standard language of the parties denying wrongdoing.
The agreement also details specific statements that “Wakaya and its officers and affected employees can no longer make”.
At the hearing Steve Wallach, on behalf of himself, Michelle Wallach and Joel Wallach, Todd Smith, and attorneys for both the Plaintiffs and Defendants, all agreed to the settlement terms.
At the conclusion of the hearing, the court congratulated the parties on reaching an agreement.
I would like to congratulate you all. I know it’s been a long evening, almost nine hours going straight at it.
So I think this is a very, very beneficial settlement for all parties, and I want to congratulate you for your — your levelheadedness in putting this together.
All in all after four years of proceedings, the settlement appears to be a win for Youngevity.
Wakaya Perfection and the defendants are paying $1 million to Youngevity, and they’re not permitted to make claims that Youngevity has objected to.
I can’t see any win for Wakaya Perfection and the defendants, other than being done with costly litigation.
Looking forward, Youngevity has remained intact throughout proceedings.
Wakaya Perfection doesn’t exist anymore, having been sold off to LaCore Enterprises and rebooted as Bulavita.
Bulavita still markets a muscadine supplement but presumably, as per the agreed upon settlement, the M20 formulation is gone.