Beck v. Catanzarite Law Corp. CA4/3
As set forth in Beck’s complaint, the history of this case begins in 2015 when a failing corporation sought a new business opportunity in the cultivation and use of cannabis products. MFS’s board members, O’Connor, Cooper, and Richard J. Probst formed CTI and appointed themselves to CTI’s board of directors. Initially, the directors told MFS shareholders that CTI would become MFS’s subsidiary, but their plans changed and they created a separate entity. Beck asserts this was due to the board’s concern CTI would be burdened by MFS’s previous business failures. The board hired Beck, who was experienced in the cannabis industry and with transitioning small investor-based start-up companies through “an exit or a public merger.” Eventually, Beck joined CTI’s board of directors and became the president and chief executive officer (CEO) of the company.
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