A Virgin Islands mutual fund claiming to control 99.9% of OWC Pharmaceutical Research Corp. sued it in Delaware on Wednesday, saying the Israeli cannabis company and its founder have “ginned up a bogus governance dispute” to force a subsidiary into bankruptcy and seize its patents.
The lawsuit, filed in Delaware Chancery Court, targets OWC and Ziv Turner, who has served as its chairman-CEO after helping to found the medical cannabis research company and its wholly owned operating subsidiary, One World Cannabis Ltd.
The suit accuses them of trying to block Discover Growth Fund LLC—which says it holds 99.9% of OWC’s ...
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