Native Roots co-founder sues former marijuana business partner again

A co-founder of Denver-based Native Roots Cannabis Co.has filed a 52-page lawsuit on top of the current litigation between him and a former business partner.

ADVERTISEMENT According to BusinessDen, Josh Ginsberg is suing: Peter Knobel, a former partner.Knobel’s wife.

Knobel’s company Brightstar.53 of Knobel’s other companies.

The disagreement between Ginsberg and Knobel began in 2017, when Knobel wanted to sell his shares to a private equity firm.Ginsberg and a third partner, Rhett Jordan, said they had a right of first offer to buy the shares for $8.8 million, BusinessDen reported Ginsberg said he could have raised the money to purchase the Denver-based company, but Knobel disparaged him with financiers.

The dispute entered arbitration, with a judge awarding Ginsberg and Jordan more than $100 million.A Denver judge vacated the award in 2022.

Last year, the Colorado Court of Appeals reinstated the $100 million judgment.The most recent lawsuit alleges the Knobels started a company called Halcyon Lending, where they moved Brightstar’s assets “to deplete Brightstar before (Ginsberg) and Jordan can collect,” BusinessDen reported.

Nearly all 10 properties moved to Halcyon are Native Roots stores, but the cannabis operator’s Denver headquarters building also was included. ADVERTISEMENT Ginsberg’s lawsuit seeks to prevent the Knobels from moving more assets out of Brightstar.

Knobel’s attorney and Ginsberg declined to comment to BusinessDen....