Shares of American cannabis giant Curaleaf Holdings Inc CURLF traded down Friday after several Twitter users brought up the Russian and Ukrainian descent of executive chairman Boris Jordan.
Jordan, a U.S.-born American citizen, was accused of having financial ties to Russian companies and oligarchs. One Twitter user also pointed out that Andrei Blokh, owner of a large portion of Curaleaf’s stock, was domiciled in Moscow.
To this, Jordan responded, “Curaleaf is an American success story founded by Me! Pls stop spreading misinformation. I was born in the US and live and work in the US! Our shareholder Andrei Blokh is also a US citizen. $curlf”
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Jordan then added, “Being of both Ukrainian and Russian descent, I pray for diplomacy & a peaceful resolution that protects the lives of all citizens on both sides of this conflict.”
Arguing that the statements made on Twitter were speculative and xenophobic, Jordan weighed in on those rumors exclusively to Benzinga.
“Rumors and misinformation spread during turbulent times. We are committed to fostering trust and transparency throughout the cannabis industry,” wrote Jordan. “For the benefit of our investors and the transparency of the market, Curaleaf would like to provide some clarity by addressing speculation regarding how the Russia-Ukraine crisis may impact the company.”
He continued, “U.S. citizens, whether they hold other passports or not, are not subject to and cannot be subject to U.S. economic sanctions. Curaleaf, as an American company, is also not subject to and cannot be subject to U.S. economic sanctions.”
A spokesperson provided further clarifications.
Our Executive Chairman and largest shareholder, Boris Jordan, is an American citizen, born and raised on Long Island, New York. He is not, and has never been, a citizen of any other country.
Mr. Jordan spent several years working in Europe and Russia and currently has several businesses in the U.S. (Curaleaf among them), Europe and Russia.
Our second largest shareholder is Andrei Blokh, a successful retired CPG entrepreneur who is not active in the company. Mr. Blokh is a US citizen, who also holds a Russian passport.
The substantial majority of our shares are owned by the retail investor community and institutional investors.
The speculation on social media that the company and its major shareholders and executives will somehow be subject to any US government economic sanctions now or in the future is incorrect.
You now can find the full statement on Curaleaf's IR site.
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