On April 17, 2024, 180 Life Sciences Corp. announced significant changes to its financial oversight and legal proceedings. The company, with the approval of its Audit Committee, has dismissed Marcum LLP as its independent registered public accounting firm and has engaged M&K CPAs, PLLC for the fiscal year ending December 31, 2024. The previous audit reports by Marcum for the years ending December 31, 2023, and 2022 did not contain any adverse opinions, except for an uncertainty regarding the company's ability to continue as a going concern. In legal matters, 180 Life Sciences reported progress in its ongoing litigation with AmTrust International Underwriters DAC and Freedom Specialty Insurance Company. The court granted partial summary judgment in favor of 180 Life Sciences, affirming the company's insured status and...Show More

On April 17, 2024, 180 Life Sciences Corp. announced significant changes to its financial oversight and legal proceedings. The company, with the approval of its Audit Committee, has dismissed Marcum LLP as its independent registered public accounting firm and has engaged M&K CPAs, PLLC for the fiscal year ending December 31, 2024. The previous audit reports by Marcum for the years ending December 31, 2023, and 2022 did not contain any adverse opinions, except for an uncertainty regarding the company's ability to continue as a going concern. In legal matters, 180 Life Sciences reported progress in its ongoing litigation with AmTrust International Underwriters DAC and Freedom Specialty Insurance Company. The court granted partial summary judgment in favor of 180 Life Sciences, affirming the company's insured status and coverage for certain SEC subpoena-related expenses. However, issues regarding the Change in Control exclusion remain unresolved and will be determined at trial. The company has already received $2.27 million from AmTrust, of which $1.5 million was retained after attorney's fees. The final matters of the litigation are to be vigorously pursued by 180 Life Sciences.