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Pivot Pharmaceuticals Inc
Symbol PVOT
Shares Issued 88,679,077
Close 2019-06-14 C$ 0.37
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Pivot lawsuit "baseless and malicious," defendants say

2019-06-17 10:46 ET - Street Wire

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by Mike Caswell

California residents Patrick Rolfes and Ross Franklin deny accusations from Pivot Pharmaceuticals Inc. that they committed a fraud against the company or that they attempted to seize control of the company's powderized cannabis business. They claim that a lawsuit Pivot filed is "baseless and malicious" and that the company only brought it as an intimidation tactic. The men say that they have a dispute with the company in the United States over a breach of their employment agreement.

The statements from Mr. Rolfes and Mr. Franklin come in response to a lawsuit that Pivot filed in the Supreme Court of British Columbia on April 23, 2019. The company said that the two men attempted to take control of a California entity that belongs to Pivot. The men had been employees of the operation, which was called ERS Holdings LLC. Pivot did not say exactly how the men intended to take control of ERS, only accusing the pair of making "extortionate representations" to achieve their goals.

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