MJ Biz Report
The companies behind most Cookies-branded marijuana outlets in the United States backed out of a $2 million deal to buy a minority interest in a Massachusetts cannabis store, a new lawsuit alleges.
According to the suit, filed this week in Suffolk County Superior Court, Cookies Retail and its affiliates agreed in 2021 to pay $2 million to buy a 49% stake in New Dia, the legal entity that owns Cookies Worcester.
But the would-be buyers, which include California-based TRP, never paid, the lawsuit alleges.
Instead, according to the suit, they repeatedly attempted to renegotiate the deal – including bringing in a third party – before finally telling plaintiff Ross Bradshaw and New Dia that “we simply don’t have the cash to pay you.”
The lawsuit is the latest legal headache for the Cookies empire, a loosely affiliated network of legally distinct companies that appear under a unified front to most of the public.
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