Billionaire Wrigley Sued for Cannabis Company Restructuring (1)

Oct. 20, 2023, 3:44 PM UTCUpdated: Oct. 20, 2023, 6:13 PM UTC

The founder of a cannabis business now controlled by William “Beau” Wrigley has sued affiliates of the chewing-gum heir, saying Wrigley is using a self-dealing corporate restructuring to make fraudulent asset transfers and dodge a court judgment.

The lawsuit made public Thursday targets the insolvent marijuana enterprise, Parallel—which operates the Surterra Wellness retail brand—along with board members and investment vehicles linked to the billionaire Wrigley.

It was filed by Jacob Bergmann, who won nearly $22 million from Parallel last year after it failed to repay a loan related to the settlement of a case challenging the buyout price for his ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.