Cannabis industry consulting firm Medbox Inc. announced Thursday that it has reached a settlement regarding lawsuits against the company and several of its insiders related to problems with the West Hollywood firm’s financial reporting over the past few years.

In a press release, Medbox said it had reached an agreement in principle for pending class action and derivative plaintiffs who filed almost a dozen lawsuits against the company, some current and past directors, executives and others concerning its reported financial results

In March, the firm restated its financial results for 2012, 2013 and the first three quarters of 2014. It had found previous errors including premature recognition of customer revenue, which resulted in the overstatement of hundreds of thousands of dollars in revenue.

“We entered into a global settlement to avoid the costs, risks and uncertainties inherent in litigation,” said Medbox interim Chief Executive Jeff Goh in a statement.

Medbox wouldn’t disclose the details of the settlement, but said it provides for the dismissal of all claims and is contingent on final court approval. The firm added it did not expect the settlement to have a material adverse effect on the Medbox’s financial position or operating results.