Cannabis Co. Sued For $150M Over Effort To Devalue Rival

Law360 (December 9, 2019, 4:55 PM EST) -- A Canadian cannabis company hatched a plot to bankrupt a company made famous on ABC's "Shark Tank" so it could cheaply take over the company's line of all-natural body care products, according to a $150 million derivative lawsuit removed to Florida federal court.

Soap company Trimax Corp. shareholder Joseph M. Vasquez III alleged in a complaint filed in Florida state court Dec. 2 and removed to federal court Thursday that cannabis company Tilray Inc. ran an "outrageous" scam through its private equity owner, allegedly convincing a pair of former "Shark Tank" entrepreneurs to bankrupt their own company so Tilray could buy...

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