(RTTNews) - Kaival Brands Innovations Group, Inc. (KAVL), the U.S. distributor of products manufactured by Bidi Vapor, announced the U.S. Court of Appeals for the Eleventh Circuit has ruled 2-1 in Bidi Vapor's favor, granting its petition for review, in Merits Case Against FDA. The 11th Circuit held that FDA's Marketing Denial Order issued against Bidi Vapor's non-tobacco flavored ENDS devices was arbitrary and capricious, primarily because FDA failed to consider the relevant marketing and sales-access-restrictions plans included in Bidi Vapor's Premarket Tobacco Product Applications for the non-tobacco flavored BIDI Sticks.
"As the exclusive U.S. distributor of Bidi Vapor's products, this is a significant event for us and our downstream partners, as many awaited the decision before expanding distribution, and paves the way for potential revenue growth for our company," said Eric Mosser, Chief Operating Officer of Kaival Brands.
Shares of Kaival Brands are up 28% in pre-market trade on Thursday.
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