CWNevada, one of the state’s
largest cannabis companies, faces six separate lawsuits alleging fraud, failure
to pay lenders on time and, in one case, misappropriation of intellectual
property.
CWNevada owns at least two cultivation
facilities, a production facility and three dispensaries under the Canopi
brand. The company calls itself “the premier cannabis distributor in Nevada’’
on its Twitter page and is one of just three companies that own three
dispensaries in Clark County, according to the Department of Taxation.
The company is struggling to pay back millions
of dollars it raised from lenders over the past few years for cultivation,
production and distribution of marijuana products, according to court
documents. The lawsuits come as Nevada marijuana retail sales have exceeded state forecasts.
“While local and national media outlets report on the unprecedented success of Nevada’s regulated marijuana market, CWNevada, LLC’s management has managed to run the business into the ground,’’ alleged a lawsuit by Green Pastures Fund, Jakal Investments, Green Pastures Group, Jonathan Fenn and Growth Opportunities.
