Here's the REAL story: So it appears a settlement has already been reached with Mark Ruiz and Matt Machado's cases in court and although it doesn't favor Michael Jennings (he lost) it does appear a large number of shares are coming to Ruiz and Machado at some point in the near future. Most likely they will be liquidating said shares in a prompt timeframe upon receipt. You can guess what'll happen if and when those shares are liquidated. You can look over the entire case file here along with several others including Scott Kajiya, Kenneth Koskiniemi, all are either breach of contract or fraud related. Go ahead say it's all just a conspiracy still LOL!!! Your idol is in hot water and it's going to cost him and the bagholders soon.
Defendant Michael Jennings, the third member of the Loud Seeds partnership who managed its business operations—and not its cannabis cultivation—recognized the value of the Loud Seeds brand and seed bank and orchestrated a wrongful and tortious scheme to obtain all of its value for himself while cutting Almeida and Koskiniemi out of the business entirely. Through this scheme, which was aided and abetted by Defendants NGW, NGWH, NGW Holdings/Crossgate Capital, and Crossgate Holdings, Jennings formed a new cannabis company (NGW), obtained startup financing from Crossgate Holdings based on the value of the Loud Seeds’ brand and intellectual property, transferred Loud Seeds’ intellectual property to NGW without either obtaining Almeida or Koskiniemi’s consent or providing them with any compensation, and used that intellectual property to build a competing business and take it public for Defendants’ profit.
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