Canopy Development is suing Research and Improvement Farming (RDF) of California’s Central Valley, which contracted to develop 500 acres of hemp for the Ontario firm in 2019.
In a lawsuit filed in July, Canopy mentioned the California grower misused a $1.69 million deposit and killed hemp plants. A federal judge lately ruled the lawsuit can proceed, rebuffing an try to have the case tossed.
Back in April, the corporations signed an agreement in which Canopy would give 55,000 hemp seedlings to the California farm to develop and harvest on a contract basis.
RDF claimed in an October court filing that Canopy didn’t abide by contract terms and interfered with the project.
At a Nov. eight hearing, U.S. District Court Judge Charles R. Breyer denied RDF’s try to dismiss Canopy’s remaining claims. The judge also denied RDF’s request to seize the farm’s bank accounts though the suit proceeds.
Canopy trades on the New York Stock Exchange as CGC and the Toronto Stock Exchange as WEED.
Corporation officials told investors Thursday in a quarterly earnings get in touch with that its U.S. hemp expansion plans stay on track.
Study far more about the Canopy-RDF lawsuit right here.
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