Medical cannabis company Better (Cann Pharmaceuticals Ltd.) is suing InterCure INCR for $35 million.
A lawsuit has been filed against InterCure and its management, adding to a series of lawsuits recently filed against the company's conduct. According to Better, the lawsuit stems from InterCure's alleged attempts to push competitors like Better and other cannabis companies out of the market. Better claims that InterCure has a history of misrepresenting facts to acquisition companies for the purpose of merging and abusing its power in the deal. Better also claims that InterCure has the bad faith of engaging in predatory activities that drain the financial reserves of the acquisition targets.
The lawsuit addresses the actions taken by InterCure's executives during the negotiations with Better, allegedly including making false representations, exerting pressure to transfer commercial materials, damaging production capabilities and harming the company's customers, assets, and means.
Better is asking the court for a number of remedies outlined in its lawsuit, as compensation for InterCure's damages to Better during negotiations.
Photo: Benzinga edit with photos by AJEL and lindsayfox on Pixabay
Related News
InterCure Stock Trading Lower On Q1 Revenue Growth Of 22%, Here Are The Details
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.