Brian Lannon, co-founder and former CEO of California cannabis testing lab Cannalysis, has filed suit against the company he founded and its new leadership over allegations of breached fiduciary duties, wrongful termination, and fraud.
First reported by Beard Bros Pharms, the lawsuit names Bedford Acquisition Partners Ltd. — an investment firm dealing under the name CanLabs — and Cannalysis Labs as defendants, as well as numerous individuals employed by Cannalysis including Gary Hopkinson, Billy Hagstrom, Tyler Autera, Tom Autera, Eric Weinstein, and Chris Hetherington.
In their April 20 court filing, plaintiffs Brian Lannon and Peter Lannon — Brian’s father, who was an early investor in Cannalysis — allege that Lannon’s ouster as CEO last November was unlawful, having resulted from a secret meeting of company shareholders during which Lannon (who was not present) was removed from the company’s board of directors and then subsequently terminated from his role as CEO. The plaintiffs say the company has even refused to honor their requests for corporate records despite the Lannons’ continued role as company shareholders.
Other complaints in the 32-page suit — which ultimately demands a jury trial — include accusations of slander, claims that the company made purchases using Lannon’s personal credit card, and allegations that the newcomers in 2019 almost immediately started working to recoup their costs by falsifying company records in hopes of wooing additional investment dollars.
Cannalysis made headlines in 2019 for a $22.6 million fundraising round headed by CanLabs; Lannon was removed from his post about two months later.
Lannon declined to provide a comment for this article. A request for comment was also submitted to Cannalysis but there was no response at the time of this publishing; this article may be updated in the future if that request is answered.
The post Ousted Testing Lab CEO Accuses New Leadership of Fraud appeared first on L.A. Cannabis News.
Credit: Source link
