Canadian marijuana multistate operator Slang Worldwide is being sued for allegedly concealing their financial problems while acquiring a Vermont-based cannabis business. The suit alleges that Slang acquired High Fidelity to secure a loan required for the survival of their business operations. The deception would demonstrate that Slang was willing to exploit a smaller cannabis company to secure its future. For High Fidelity and CeresMed, moving forward from this legal entanglement, it is crucial to refocus on their primary goal of providing quality cannabis products to Vermont consumers. The complex stock-and-cash merger, worth $17.25 million, occurred as Vermont prepared to launch its adult-use market.Slang’s Desperate Need for Cash Allegedly HiddenThe crux of Lynn’s lawsuit claims that Slang Worldwide knowingly concealed vital information about its dire financial situation.
Canadian marijuana multistate operator Slang Worldwide is being sued for allegedly concealing their financial problems while acquiring a Vermont-based cannabis business. The former owner of High Fidelity, Shayne Lynn, filed an August lawsuit stating that Peter Miller (Slang’s co-founder and ex-board chair), Christopher Driessen (former CEO), and the company committed fraud and negligent misrepresentation.
According to a Vermont alternative weekly Seven Days report, the dispute arises from Slang’s purchase of High Fidelity, the parent company of cannabis retailer CeresMed, in June 2021. The complex stock-and-cash merger, worth $17.25...
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