BROADBAND CAPITAL INVESTMENTS II, LLC v. AEROFARMS, INC.
Case Number:
2:23-cv-00996
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March 03, 2023
Lender Drops $28M NJ Vertical Farm Suit In Federal Court
A capital investment firm has voluntarily dismissed without prejudice its lawsuit over a $28 million loan to a New Jersey vertical farming company, after it discovered the case lacked jurisdiction diversity in federal court, and plans to take its case to state court.
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February 21, 2023
NJ Vertical Farming Co. Sued Over $28M Loan-To-Equity Claim
A capital investment firm is suing a New Jersey vertical farming company in federal court over the neglected repayment of a $28 million loan, accusing the company of breaching its contractual obligations and falsely claiming the note had been "automatically converted into equity."