UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
As previously disclosed, on January 6, 2023, a former employee (the “Plaintiff”) of CIMG Inc. (formerly known as Nuzee, Inc.) (the “Company”), filed a complaint (the “Complaint”) against the Company and another former employee of the Company (the “Supervisor”), in the Superior Court of California, County of San Diego (Case No. 37-2023-00000841-CU-WT-NC). Pursuant to the terms of the Plaintiff’s employment agreement with the Company, on December 22, 2023, the Court compelled the case to arbitration with the American Arbitration Association (case number 01-24-0002-3225) (the “Action”). The Complaint sought damages, penalties, attorney’s fees, and costs and interest.
On November 8, 2024, without a finding or admission of wrongdoing, the Company entered into a settlement agreement with the Plaintiff under which the Company agreed to pay a settlement in exchange for mutual general releases and a dismissal of the Action.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CIMG Inc. | ||
| Dated: November 19, 2024 | By: | /s/ Jianshuang Wang |
| Name: | Jianshuang Wang | |
| Title: | Chief Executive Officer | |