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Cultivation Technologies, Inc. v. Scottsdale Insurance Company et al
Case Number:
8:19-cv-01993
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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October 28, 2019
Insurer Says It Must Defend Pot Co. Board In Investor Revolt
Scottsdale Insurance Co. has urged a California federal court to toss a suit by a group of cannabis investors who are seeking a declaration that the insurer doesn't have to defend the board of directors of Cultivation Technologies Inc. in a shareholder derivative suit because the board is illegitimate.
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October 22, 2019
Cannabis Co. Investors Sue Insurer To Block Board's Defense
A shareholder revolt at a collapsing cannabis company has spilled into federal court in California, where a bloc of Cultivation Technologies Inc. investors is trying to prevent an insurer from defending the company's board in a derivative suit that alleges the board members secured their positions illegally and looted the company.