Los Angeles Court Denies Retrial Motion in Cannabis Fraud Case
In a recent ruling that reinforces the legitimacy of a hefty $20 million verdict, a Los Angeles Superior Court judge has dismissed a motion for retrial by CADM Inc. The company faced allegations of deceiving investors through a misleading real estate transaction tied to cannabis operations. The decision upheld by Judge Joel L. Lofton found CADM’s request not only untimely but also lacking merit, further solidifying the original judgment.
No Retrial Coming After $20M Cannabis Investor Verdict: Motion for Retrial: A Missed Deadline and Failed Arguments
CADM Inc., which was slapped with a $20 million penalty for its fraudulent actions against investors, notably missed a crucial legal deadline. The company’s oversight in failing to serve the motion for a new trial to the correct attorney for Leafire Inc. and Llulllu LLC on time was a key factor in the judge’s decision. The deadline was April 8, adjusted due to the weekend, but CADM’s misstep occurred because it did not update its records to reflect the plaintiff’s new legal representation, which had changed on April 3.
