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Pelorus Tried To ‘Steal’ Ownership Stake, Borrower Says

A trio of companies behind a California cannabis enterprise filed suit against Pelorus Management Group LLC on Wednesday for allegedly trying to “steal” a 25% ownership interest, calling the company’s real estate investment trust an “unethical loan shark.”

The three companies that filed suit — Humboldt Health Care LLC, Emerald Family LLC and Emerald Family Farms LLC — asked the court for an order confirming that they haven’t granted Pelorus Management any equity interest in the companies, and that Pelorus Management has no right to a preferred equity interest. The lawsuit comes the same day that related entity Pelorus Equity Group,,,

To Read The Rest Of This Article By Sarah Jarvis on Law360

Published: October 21, 2021

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