A Burlington cannabis entrepreneur is suing the Canadian company he merged his company with as part of a $25 million deal in 2021.
Shayne Lynn of High Fidelity claims that executives at Toronto-based SLANG Worldwide "used unlawful sharp practices to hoodwink" him about the state of SLANG's financial condition before taking over his company.
Filed in Vermont Superior Court last month, the suit accuses SLANG, its cofounder and former board chair Peter Miller, and its former CEO Christopher Driessen of fraud and negligent misrepresentation related to the deal.
Lynn once held two of Vermont's five medical cannabis licenses and operated stores under the name Champlain Valley Dispensary and Southern Vermont Wellness. He later changed the name to CeresMED, which operated under a parent company, High Fidelity.
Read more at sevendaysvt.com