October 28, 2019
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.
October 22, 2019
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.