Lawsuit Alleges Canopy Formed JV Just To Pump Stock

MJ Biz are reporting today…

A high-stakes lawsuit that Canopy Growth and other Ontario, Canada, cannabis companies had hoped would disappear along with their ill-fated PharmHouse joint venture has been revived and refiled.

The new lawsuit seeks 500 million Canadian dollars ($394 million) and is loaded with more details and allegations than a related suit filed last August and later set aside after PharmHouse was granted creditor protection.

A group of cannabis companies, including Canopy Growth, is being accused of entering into the PharmHouse joint venture nearly three years ago to mass produce cannabis “solely” to pump their stock prices and earn profits for company insiders, according to the new lawsuit filed in February in the Ontario Superior Court of Justice.

Read full report at

Canopy Growth, others formed JV ‘solely’ to pump marijuana stock, refiled CA$500 million lawsuit alleges

 

 

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