Pot Co. Moxie Sues Billionaire Family For Merger Meltdown

By Jeff Montgomery (March 10, 2022, 4:46 PM EST) -- California-based, multi-state cannabis company Moxie has sued the Ohio billionaire investors and backers of insolvent pot company Green Growth Brands Inc. in Delaware's Chancery Court, alleging fraud, breach of fiduciary duty and related counts arising from GGB's collapsed, $310 million deal for MXY in 2019.

The suit, filed Wednesday by MXY Holdings LLC, accuses Joseph Schottenstein and his parents, Jay and Jean Schottenstein, and others of misrepresenting their commitments and intent to support Moxie in a July 2019 merger agreement, while later depleting insolvent assets that should have been preserved for creditors.

The Schottensteins, with son and GGB founder Joseph in...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!