9:00 AM - 5:00 PM

Our Hours Mon. - Fri.

310.774.1437

Call Us For Free Consultation

Facebook

Twitter

CBD Co. Execs Hit With Derivative Suit Over Patent Rejection

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > CBD Co. Execs Hit With Derivative Suit Over Patent Rejection

CBD Co. Execs Hit With Derivative Suit Over Patent Rejection

Law360 (June 15, 2020, 9:01 PM EDT) — Executives from CBD company CV Sciences are facing a shareholder derivative suit over claims they hid the fact its application for a patent on a CBD and nicotine product was denied, misleading investors who believed the company was still waiting for a decision from the U.S. Patent and Trademark Office.

The company’s application for a patent on a CBD and nicotine therapy for smokeless tobacco addiction was rejected by the USPTO in 2017, but shareholders didn’t learn about it until 2018, when a short seller research firm reported the rejection, the suit claims.

The suit, filed June 11, says CV Sciences’…

Call Now ButtonCall For Free Consultation