In at least six press releases issued throughout March and April 2015, beginning with one issued on or about March 5, 2015, Bud Genius described itself as “a licensee of celebrity-endorsed marijuana and hemp related merchandise.” These press releases deceived investors because Bud Genius was never, at the time of the press releases or any time thereafter, a “licensee of celebrity-endorsed marijuana and hemp related merchandise.” A proposed acquisition to obtain licensing rights associated with Tommy Chong never materialized, and Bud Genius was never a licensee of any celebrity-endorsed products.
AI
