The settlement resolves claims against Michael Earl-Wayne Anthony, the guard who fired the fatal shot, and Kingdom Group Protective Services, the security contractor that employed him. The lawsuit, filed by Brown's parents, Terry Brown and Kevinisha Henderson, and represented by the Oakland law firm Burris, Nisenbaum, Curry and Lacy, alleged wrongful death and accused the companies of creating a dangerous confrontation over alleged shoplifting.

The shooting occurred on April 27, 2023, after Anthony confronted Brown inside the store over items Brown was carrying in a bag. Video footage showed a struggle, with Anthony placing Brown in what he later described to police as a "chokehold type" restraint. Brown was released, retrieved his bag, and began to leave. As Brown backed away from the storefront, Anthony shot him once. Anthony told investigators he feared for his life after Brown allegedly tried to spit at him and threatened to stab him, though no weapon was found on Brown or at the scene.

Attorney Ben Nisenbaum, who represents the family, said the settlement is only partial. "We're only part of the way there," he told reporters, referring to the ongoing claims against Walgreens and Allied Universal Security. "As far as the family is concerned, I think they feel the same way that this is one piece of it, but there's much more to go."

The family's lead attorney, John Burris, had argued that the companies' policies—including the use of armed guards and directives to physically confront shoplifters—led to the fatal encounter. "Their unfit security guard [blew] up and kill[ed] Banko over nothing," Burris said when the lawsuit was announced.

Brown's death sparked widespread outrage and protests, particularly over the city's treatment of transgender residents and the decision by District Attorney Brooke Jenkins not to file criminal charges against Anthony. Jenkins cited insufficient evidence, pointing to Anthony's claims of self-defense. California Attorney General Rob Bonta later reviewed the case and found that Jenkins had not abused her discretion.

In the wake of the shooting, Kingdom Group changed its policies, instructing guards not to confront shoplifters at Walgreens and not to bring guns to work. The San Francisco Board of Supervisors also banned armed guards from drawing weapons when only property, not life, is under threat.

Nisenbaum acknowledged that the settlement does not bring full closure. "It's not justice, right? Because justice would have been Anthony being held accountable in criminal court," he said. "So what's left is this."

The lawsuit against Walgreens and Allied Universal remains active, with the family seeking further accountability for the policies and practices that they say contributed to Brown's death.