Bright Green Hit With $104 Million Legal Blow Amid Bankruptcy Proceedings

A New Mexico court has delivered a staggering financial verdict against cannabis firm Bright Green, awarding a former executive more than $104 million in damages. The ruling comes at a particularly challenging time for the company, which is currently navigating Chapter 11 bankruptcy protection.

This week, a jury determined that Bright Green improperly invalidated five million shares belonging to former manager John Fikany. The panel specifically assigned $103.1 million in damages for the unlawful cancellation of Fikany’s stock holdings. Both current CEO Lynn Stockwell and former CEO John Stockwell were found liable for the share cancellation.

The legal dispute traces back to a 2018 agreement, when Fikany was recruited to facilitate Read more...