CBD Co. Can’t Avoid Stock-Drop Suit, Shareholder Says
Law360 (September 16, 2020, 8:46 PM EDT) — A shareholder behind a derivative suit against executives of CBD company CV Sciences has urged a California federal judge to keep the suit alive, pointing to another judge’s ruling allowing a nearly identical case to go forward.
Shareholder Phillip Berry’s suit accuses CV Sciences of promoting one of its flagship products as “patent pending” when the patent had already been rejected by the U.S. Patent and Trademark Office. The suit also claims the company’s board refused a request to investigate that accusation.
It is one of several against the company over the same issue, and a judge overseeing one of those…