Lab Investor Hits CBD Co. With Securities Fraud Suit

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Law360 (October 4, 2019, 6:38 PM EDT) — Arizona-based investor Halo Laboratories LLC has sued an Oregon-based company, claiming it falsely represented plans to use Halo’s money to build a CBD extraction facility when it was actually building an unlicensed marijuana enterprise.

Halo’s Thursday complaint includes counts for federal securities fraud, Oregon securities fraud and breach of contract against Corey Gaines, James Tindall, Aukai King and their company UXTract LLC.

King, who owns the property where UXTract planned to conduct its business, had “total control” over how much material UXTract could process, because county zoning regulations specified that a quarter of the material processed at the facility must come…

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