Skye Bioscience, Inc. filed a current report on November 12, 2026, disclosing that on November 10, 2026, a jury returned a unanimous verdict in favor of the company on all claims following a retrial in the Wendy Cunning vs. Skye Bioscience, Inc. matter in the U.S. District Court for the Central District of California.

Key Highlights

  • Unanimous verdict: The jury returned a unanimous verdict in favor of Skye Bioscience on all claims on November 10, 2026, according to the filing.
  • Case background: Former employee Wendy Cunning alleged violation of whistleblower protections under the Sarbanes-Oxley Act of 2002 and retaliation under California law, relating to events during her employment from March 2018 to July 2019.
  • Relief sought: The complaint sought unspecified economic and non-economic losses, as well as attorneys' fees, the company disclosed.
  • Judgment pending: The company stated it expects the District Court to enter judgment in due course following the verdict.
  • Post-trial risk noted: The filing states that the plaintiff may file post-trial motions and may appeal any judgment entered on the verdict.
  • Pending acquisition: The filing also references a proposed acquisition of Redx Pharma Limited by Skye Bioscience under a Transaction Agreement dated August 14, 2026.

Retrial Outcome and Litigation History in the Cunning Matter

Skye Bioscience, Inc. (NASDAQ:SKYE), a Nevada-incorporated bioscience company headquartered at 11250 El Camino Real, Suite 100, San Diego, CA, disclosed the retrial outcome through a current report filed November 12, 2026. According to the filing, the case was originally disclosed in Part II, Item 1 of the company's Quarterly Report on Form 10-Q filed with the SEC on August 14, 2026. The lawsuit, entitled Wendy Cunning vs. Skye Bioscience, Inc., was brought in the U.S. District Court for the Central District of California and alleged violation of whistleblower protections under the Sarbanes-Oxley Act of 2002, as well as retaliation under California law. The alleged actions and events pertained to the company's former management during the plaintiff's employment term from March 2018 to July 2019.

The filing reports that on November 10, 2026, following the retrial in the District Court, the jury returned a unanimous verdict in favor of the company on all claims. The company stated it expects judgment to be entered by the District Court in due course. However, the filing also notes that "the plaintiff may file post-trial motions and may appeal any judgment entered on the verdict" and that "the Company cannot predict whether the plaintiff will do so or the outcome of any such motion or appeal." The complaint had sought unspecified economic and non-economic losses, as well as attorneys' fees.

Separately, the filing contains soliciting material pursuant to Rule 14a-12 under the Exchange Act, referencing the company's proposed acquisition of Redx Pharma Limited under a Transaction Agreement dated August 14, 2026. The filing states that a preliminary proxy statement has been filed with the SEC in connection with that proposed transaction, and that the definitive proxy statement will be sent or provided to stockholders. The company noted that forward-looking statements in the communication are subject to risks and uncertainties and are intended to qualify for safe harbor protections under the Private Securities Litigation Reform Act of 1995.

What Was Disclosed

Skye Bioscience disclosed that a retrial jury returned a unanimous verdict in its favor on all claims in the Cunning whistleblower and retaliation lawsuit on November 10, 2026, while noting that post-trial motions or an appeal by the plaintiff remain possible and that the outcome of any such proceedings cannot be predicted.