Verano Prevails In Nielsen Arbitration Dismissing All Claims

Verano Holdings Corp. VRNOF VRNO through its subsidiary, Verano Holdings, LLC, yesterday notified the U.S. District Court for the District of Colorado of its complete victory in arbitration regarding various frivolous RICO (Racketeer Influenced and Corrupt Organizations Act) claims brought by Nicholas Nielsen. The arbitrator dismissed all of Nielsen’s claims with prejudice and awarded Verano nearly $100,000 in attorney’s fees in the arbitration, further underscoring the groundless nature of the lawsuit.

In his claims, originally brought in Federal Court but ultimately adjudicated on the merits in arbitration, Nielsen failed to disclose that he had pleaded guilty to a four-count felony indictment in the State of Arkansas for the blatantly illegal marijuana cultivation and production operation he ran out of his home. Nielsen’s claims were a meritless effort to shift blame to Verano and more than fifty other defendants for his conviction, which was based on illegal activity in which he engaged on his own volition and without the knowledge or involvement of Verano or others.

“The allegations in the complaint are completely and totally false and absurd,” stated George Archos, Verano founder and CEO. “The plaintiff and his lawyer have turned an employment dispute between a former employee and his employer into a sensationalized and imagined series of events aimed at a company like Verano with a proven track record of compliant operations. Verano and its affiliates are proud of their strict compliance with, and adherence to, state laws and regulations, and any insinuation to the contrary is completely fictional.”

With operations in 13 states, all with highly regulated state-legalized cannabis programs, Verano is a leading, vertically integrated multi-state cannabis operator in the United States. This complete victory for Verano validates its vigorous efforts to defend itself from these false, baseless and defamatory allegations that struck at one of Verano’s core foundational principles - strict compliance with applicable law.

Photo: Courtesy of Verano Holdings Corp.

Related News

Verano Opens MÜV Ocala, The Company's 47th Cannabis Dispensary In Florida

EXCLUSIVE: Celebrity-Backed Cannabis Beverage 'Cann' Reaches Arizona With Exciting Plans For Pride Month

Verano Launches Mobile Apps And Exclusive Rewards Programs For Zen Leaf And MÜV Cannabis Dispensaries

Posted In: George ArchosNicholas NielsenCannabisNewsMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.