Ex-Hemp Co. CEO Accused Of Selling Secret Strain For $3.8M

By Sarah Jarvis (September 22, 2020, 6:04 PM EDT) -- A partial owner of a failed venture to breed, cultivate and sell hemp seeds has filed suit against the venture's former CEO, accusing him of selling its trade-secret hemp strain to Canadian company Canopy Growth for $3.83 million under a contract allegedly worth $13 million.

Arizona-based Big Wuf Enterprises LLC and its principal W. John Short, who owned 45% of the failed YCG Holdings LLC, said in Monday's suit that the failed venture's CEO and chief genetics officer Paul Smith sold a potent strain of CBD-dominant hemp called Relief Now to the Canadian cannabis giant.

Relief Now is a trade-secret strain...

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