After Romantsova’s termination, Cannafornia’s cloning manager shared with King that Romantsova had previously asked employees to load clones onto her truck in the evenings when many of the employees weren’t there, according to the complaint. “We had a list of names that we were going through in 2017, and this was the one that kept sticking. Meanwhile, the company moved to acquire a state trademark in Arkansas, which is obtained when an entity sells its goods as commerce in the state. “Plaintiffs are informed and believe, and thereon allege, that as a result of these schemes, between July 2019 and February 2020, defendants Romantsoff, Romantsova, Severchukov, and Daulbaev retained for themselves no less than $600,000 in cash belonging to Cannafornia,” the complaint reads. “Maine Cannabis Coalition and its members along with many other citizens fought hard for two years to make sure residency protections were included in the law,” the group said in a statement issued to the news outlet. King’s complaint details how Romantsoff and Temkin allegedly misled and distracted King, in addition to setting up communication barriers between King’s “loyal” employees and people they brought into the company. “But it takes me a while because they're playing mind games with me the whole time, too, like Dimitriy is telling me he hates Roman, and Roman is telling me he hates Dimitriy.".
Rahman said he never received a satisfactory response from Harvest Health & Recreation about its Arkansas operations.
Allegations in the suit are for breach of fiduciary duty, fraud and deceit, negligent misrepresentation, conversion and violations of penal and “business & professions” codes.
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Believing millions more were coming in, King and his team leased a 250,000-square-foot property and a separate 30,000-square-foot property, both in Salinas, Calif., between March and September 2018, the suit alleges; the money never came, and King began spending most of his time working to raise capital for Cannafornia, including at investor conferences. Romantsoff and Temkin convinced King to transfer Cannafornia LLC’s assets and liabilities to numerous limited liability companies, according to the complaint. But opting out of some of these cookies may have an effect on your browsing experience. From sharing the latest in research, to creating a solid business plan, to better understanding regulations and how to adapt, as well as growing tips, industry experts will provide actionable education to help growers holistically improve their operations. Cannafornia. And I don't even know how you figure it out. The family-owned company simply chose a name that focused on the aspects of the plant they were trying to sell, according to Executive Director Robbin Rahman. Two investors in the California-based cannabis business Cannafornia are suing the company’s CEO Paul King, claiming King bought luxury condo units with money stolen from their years-long venture together and launched into a libelous campaign against them. “What we were able to demonstrate in the first part of the case is that there is a high likelihood that we’re going to succeed on the merits of a trial that will occur over the course of the next year or so,” he said. Gia Investments alleges King and California New Wave defaulted on the corporate note by failing to pay it when the loan matured on Dec. 31, 2019. In this case, it means that Weaver rejected Harvest Health & Recreation’s argument that federal trademark rights gave them the right to use the name in Arkansas, even though the company had never existed there before. “That shocked us because we didn’t know they were going to use the name in the state,” Rahman said. Their complaint also claims that King sent “harassing and threatening emails and text messages to the Plaintiffs’ family members.”, These cases, Goldberg said, provide “a good example of why courts look at litigation on a case-by-case basis.” Multiple allegations and parties, alongside unique facts, are not unique to the cannabis industry, but partnership disputes are becoming more common in the cannabis market, alongside other types of litigation, he said.. (However, he noted, some courts won’t hear cases that involve non-hemp cannabis; the courts claim they don’t have jurisdiction because the crops is federally legal.
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