Investors accuse Wrigley Heir of cannabis fraud PSPC

By Sarah Jarvis (March 11, 2022, 6:42 PM EST) – A trio of investors in cannabis operator Parallel have accused the company and its former CEO, heir to the Wrigley chewing gum fortune, of securities fraud for allegedly inducing shareholders to invest through a public association with a blank check company affiliated with record executive Scooter Braun that ultimately failed.

In a heavily redacted lawsuit filed Tuesday in federal court in Florida, TradeInvest Asset Management Co. (BVI) Ltd., First Ocean Enterprises SA and Techview Investments Ltd. alleged that William “Beau” Wrigley Jr. and Georgia-based Parallel offered a litany of “false and misleading statements and omissions” in 2021 before shareholders funded a…

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