CBD Maker Says Ex-CEO Treated Company As 'Personal ATM' – Law360

Law360 (March 11, 2021, 8:17 PM EST) — Cannabidiol venture CBD of Denver Inc. has filed suit against its former CEO in Delaware’s Chancery Court, saying he tried to transfer 90 million shares of the company to himself while treating it as his „personal ATM.”

In Wednesday’s complaint urging the court to block the transfer, CBD of Denver said that William F. Veve’s ties to the company were severed „under a cloud of suspicious activity,” and that his ownership of any company stock is disputed. The shares, which he issued to himself while he was CEO, president and sole director of the company, don’t seem to have been issued…

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