Cannabis Pharmaceutical Company Ordered to Pay SEC $2.1 Million

Vivera Pharmaceuticals Inc., its CEO, and another company must disgorge about $2.1 million, a federal court ruled in an SEC enforcement suit alleging securities fraud over cannabis-derived products.

The CEO must also pay a nearly $240,000 civil penalty, the US District Court for the Central District of California said Tuesday in separate judgments against Vivera; EFT Global Holdings Inc., which does business as Sentar Pharmaceuticals; and the executive, Paul Edalat. The three defendants immediately objected to the multiple judgments as making the payment obligation unclear and complicating a potential appeal.

Vivera plans to appeal, according to its attorney Saied Kashani. ...