Better claims that InterCure, with which it was to merge, damaged Better’s assets and thwarted the merger deal. Better is seeking to compel InterCure to complete the merger and/or to pay a compensation of up to $35 million.
TEL AVIV, Israel , June 14, 2023 /PRNewswire/ — Medical cannabis company Better is suing InterCure for $35 million.
A lawsuit has been filed against InterCure and its management, adding to a series of lawsuits recently filed against the company’s conduct. According to Better, the lawsuit stems from InterCure’s alleged attempts to push competitors like Better and other cannabis companies out of the market. Better claims that InterCure has a history of misrepresenting facts to acquisition companies for the purpose of merging and abusing its power in the deal. Better also claims that InterCure has the bad faith of engaging in predatory activities that drain the financial reserves of the acquisition targets.
The lawsuit addresses the actions taken by InterCure’s executives during the negotiations with Better, allegedly including making false representations, exerting pressure to transfer commercial materials, damaging production capabilities and harming the company’s customers, assets, and means.
Better is asking the court for a number of remedies outlined in its lawsuit, as compensation for InterCure’s damages to Better during negotiations.
For further details and the full lawsuit:
Ariel Hoffert
Minkovsky Media
[email protected]
+972549109313
SOURCE Cann Pharmaceuticals Ltd.