Attorney David Feder Says He Was Squeezed Out Of NY License In Lawsuit

CANNANNEW REPORT

Attorney David B. Feder has alleged that he is a majority owner in a company he says was squeezed out from a successful effort to net one of the Empire State’s first 10 cannabis licenses, which is now in the hands of multistate operator Acreage Holdings Inc. All the big names feature ,this will be interesting to watch Comments on Linked In certainly show that Canopy isn’t the flavor of the month Source: Linked In https://www.linkedin.com/feed/update/urn:li:activity:6851932868210425856/?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A6851932868210425856%29&mc_cid=4c164d61da&mc_eid=8292ba8d17 In a raft of documents filed in Manhattan state court on Tuesday, Feder says he holds a 60% stake and is the sole officer in an entity called EPMMNY LLC, which, in turn, allegedly holds a 25% ownership of New York Canna, or NYCanna. Feder claimed that the license won by NYCanna — a company that was acquired by Acreage in 2018 — is among the assets in play as Canada-based Canopy Growth Corporation is planning to acquire Acreage, pending federal legalization of cannabis in the U.S. The filings mark the latest development in a protracted legal battle stemming from a falling-out between Feder and others with whom he allegedly united to pool knowledge and resources in 2015 in an effort to score one of the coveted, newly available marijuana business licenses in New York’s medical cannabis program. “As we have assembled more facts, and as we have watched this action lie dormant during [the] pandemic and with the standing hearing adjourned several times, the EPMMNY members and I are constrained to update the pleading to add culpable parties and newly discovered facts,” he wrote in an affidavit. Feder claims he was pushed out through a series of corporate maneuvers, culminating EPMMNY suing in November 2018 on its own behalf and derivatively on behalf of NYCanna. The original lawsuit named 16 defendants, including NYCanna, claiming multiple acts of malfeasance and…

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Source : Attorney David Feder Says He Was Squeezed Out Of NY License In Lawsuit

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