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by Mike Caswell
Veritas Pharma Inc. has filed a lawsuit in the Supreme Court of British Columbia against its former president, Luigi Franciosi, and three former directors for breach of duty. Veritas claims that Mr. Franciosi and the others improperly lent $1-million to a company that became Liht Cannabis Corp. They also spent $400,000 and issued 1.5 million shares in a deal that was not in Veritas's best interest, the suit states.
The allegations are contained in a notice of claim that Veritas filed at the Vancouver courthouse on March 11, 2019. Besides Mr. Franciosi, the defendants are former directors Linda Sampson, Yari Nieken and David Alexander. All three left the company relatively recently, with Mr. Franciosi resigning on Feb. 8, 2019. There were no indications of any trouble when they resigned, or at least none that were publicly disclosed.
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