A brand new lawsuit alleges the highest brass of Canada-based cannabis firm Tilray misled shareholders and engaged in insider inventory gross sales throughout 2019 and early 2020.

The so-called verified stockholder spinoff go well with was filed by Tilray shareholder Lee Morgan on June 5 within the U.S. District Court for the District of Delaware. The criticism was filed on behalf of the corporate.

The criticism alleges the defendants – together with Tilray CEO Brandon Kennedy, former Chief Financial Officer Mark Castaneda and a number of other board members – breached their fiduciary duties relating to a revenue-sharing settlement between Tilray and way of life model portfolio Authentic Brands Group (ABG) and engaged in insider buying and selling surrounding that deal.

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Lawsuit: Tilray execs misled investors over ABG cannabis deal

 

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