A Los Angeles jury recently awarded what could be a record amount of damages to date in a legal business dispute over a marijuana grow and retail business.
The case, which was first filed in November 2016 in California Superior Court in L.A. County, came to a close on Dec. 17 when a jury found for the plaintiffs and awarded $4.3 million in damages after finding that defendant James Shaw was guilty of fraud, breach of contract, breach of fiduciary duty and more.
The suit was brought by an investor, Sergio Tellez, who claimed that Shaw, a longtime L.A. cannabis businessman and activist, defrauded him out of $2 million and subsequently forced him out of the marijuana business at the heart of the case.
“This is a total victory,” Tellez’s attorney, Michael Azat, told Marijuana Business Daily. “Everybody in this town is aware that James Shaw … has done this to other people in the past.” Shaw’s attorneys did not respond to requests for comment, and Shaw could not be reached for comment. It’s not clear yet if an appeal is planned.
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Published: January 15, 2019
Founder & Interim Editor of L.A. Cannabis News