trust
Transparency and trust are the pillars of any partnership—so what does it say when a company fails to disclose key legal actions to their own partners, especially while being sued for fraud?
In our ongoing lawsuit, 2023L008973 in Circuit Court of Cook County, Illinois, where we allege nuEra Cannabis, its ownership, and its executives engaged in fraud and financial misconduct, I recently discovered—through a Google Alert, not formal notice—that nuEra Cannabis’ State of Michigan LLCs filed an injunction against another party. This new lawsuit appears to involve some of the same assets and financial issues at the heart of our case, including active Security Exchange Commission complaints we filed regarding fraudulent conveyance and discrepancies in valuations.
nuEra’s decision to withhold this information from their own partners—who are actively suing them—raises serious questions about transparency and accountability.
By failing to notify their partners about this additional lawsuit—a potential conflict with our claims—nuEra demonstrates behavior that I believe disregards basic legal and fiduciary duties owed to stakeholders.
This is exactly why I filed SEC complaints for fraudulent conveyance. The industry deserves to know the truth about these practices, and we’re committed to bringing transparency and accountability to light. I mean, I had to find out from someone else that they’re even selling product in Michigan.
If they can’t even follow the rules with their partners, how can anyone trust their operations?
Check out their new lawsuit in DuPage County: Case No. 2024CH000313.
I’ll be watching closely to see how this is reflected in their complaint responses on Monday. You should too Internal Revenue Service! Since Illinois Department of Revenue, Illinois Department of Financial and Professional Regulation, Michigan Department of Treasury, Michigan Department of Licensing and Regulatory Affairs, JB Pritzker, Gretchen Whitmer, Illinois Department of Agriculture, Kwame Raoul, and Dana Nessel seem to have approved whatever filings they’ve submitted—yet we, their partners, never saw any K-1s for the years prior to the lawsuit commencement.
You damn well know I’m going to talk about it.
FnAround.com