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Securities and Exchange Commission v. American Patriot Brands, Inc. et al
Case Number:
3:23-cv-01124
Court:
Nature of Suit:
Judge:
Firms
Government Agencies
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June 30, 2023
Pot Co. Can Move SEC's $30M Inflated Revenue Suit To Calif.
A cannabis cultivation and distribution company can transfer to California federal court the U.S. Securities and Exchange Commission suit alleging it raised more than $30 million from investors with misleading claims about its revenue, a Puerto Rico federal judge has ruled.
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March 16, 2023
Pot Co. Raised $30M On 'Wildly Inflated' Financials, SEC Says
Cannabis cultivation and distribution company American Patriot Brands Inc. raised more than $30 million from more than 100 investors over 6½ years on the strength of "wildly inflated" claims about its revenue, the U.S. Securities and Exchange Commission claimed in a suit filed Thursday in Puerto Rico federal court.