Healthier Choices Mgmt Corp (HCMC)

[TMaga]

CASE CLOSED

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Healthier Choices Management (OTCMKTS:HCMC) stock is taking a beating on Monday thanks to an update on its court case with Philip Morris International (NYSE:PM).

Vitamins spilling out of a bottle representing HCMC stock.
Source: Saowanee K/Shutterstock.com

Healthier Choices Management has been duking it out with Philip Morris International over alleged patent infringements. However, that case looks to be coming to a close and not in the favor of HCMC.

According to Healthier Choices Management, its Motion for Leave to Amend its Complaint in the case has been denied. That may mean the end of the battle with PM that many investors were hoping the company would win with the court dismissing the case.

Healthier Choices Management released the following statement concerning the court case.

“HCMC is deeply disappointed in the Court’s decision to dismiss the case and is exploring its options for appeal with its counsel, Cozen O’Connor.”

Of course, that news brings with it heavy trading of HCMC stock. As of this writing, more than 3 billion shares of the stock have been traded. To put that in perspective, the company’s daily average trading volume is closer to 647 million shares.