E-Cig Seller Hid SF Ban Ahead Of IPO, Investors Say

Law360 (September 12, 2019, 2:02 PM EDT) -- E-cigarette distributor Greenlane Holdings Inc. didn’t tell investors ahead of its $110 million initial public offering that San Francisco — the city where its "key partner," Juul Labs, is headquartered — was planning to ban the vaping devices, according to a proposed class action in Florida federal court Wednesday.

The Boca Raton, Florida-based Greenlane partners with manufacturers in the cannabis and liquid nicotine industries such as Juul Labs Inc. and sells their e-cigarettes, cannabis accessories and CBD products, according to the filing.

Stockholder Chris Hammond accused the company, several of its executives and directors, and its underwriters for the IPO, of failing to...

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