23:27:34 EST Thu 14 Nov 2019
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High Hampton sues Miyake, Han for misusing its money

2019-05-15 20:38 ET - Street Wire

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by Mike Caswell

High Hampton Holdings Corp. has filed a lawsuit in the Supreme Court of British Columbia against two men who ran its California subsidiaries, claiming that they used company money for unauthorized purchases. Among other things, they bought a Mercedes Benz, leased an apartment for personal use and bought $171,190 (U.S.) worth of cannabis from an unlicensed supplier, the company says. High Hampton is seeking appropriate damages and restitution.

The allegations are contained in a notice of claim that High Hampton filed on May 3, 2019, at the Vancouver courthouse. The defendants are Wesley Miyake and Lira Han, who both live in the Los Angeles area. The men served as the chief executive officers of two California subsidiaries of High Hampton, which the suit lists as 8 Points Mgmt LLC and Bravo Distro LLC.

The allegations date back to July, 2018, when High Hampton acquired 8 Points Mgmt and Bravo Distro. High Hampton hired Mr. Miyake and Mr. Han, who had both been associated with the companies, to run them. If all went well, the men would receive a combined 4.2 million shares of High Hampton. As part of the deal, High Hampton provided $2-million (U.S.) for the subsidiaries to develop products and to pay their past debt.

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