Early in March, Parallel Cannabis, a vertically-integrated cannabis company that operates in several states, including Florida, Texas, Massachusetts, Nevada and Pennsylvania, was sued by investors of its subsidiary Surterra Wellness. Investors suggest management indebted the firm intentionally to exit with a profit.
The lawsuit has exposed the company’s defaults on its debt obligations and Curaleaf (OTC:CURLF) and revealed in its filings that Parallel was no longer buying its Illinois properties due to lack of financing.
