KAVL - Bidi Vapor's products distributor Kaival Brands rises 14% after court case win against FDA

• Shares of micro-cap company Kaival Brands Innovations Group ( NASDAQ: KAVL ), which distributes vaping products from U.S.-based Bidi Vapor, gained 14% to $1.51 in Thursday morning trading, after Bidi won a court case against the U.S. FDA.
• KAVL stock had earlier climbed as much as 36.4% to $1.8.
• The U.S. Court of Appeals for the Eleventh Circuit ruled 2-1 in Bidi Vapor’s favor and set aside the U.S. FDA's order denying premarket tobacco product applications for Bidi's non-tobacco flavored BIDI Sticks product, KAVL said in a statement .
• The court said that the FDA had failed to consider the relevant marketing and sales-access-restrictions plans included in Bidi’s comprehensive applications.
• KAVL said the court held that the FDA’s marketing denial order issued against Bidi's devices was “arbitrary and capricious.”

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