A Scotts Miracle-Gro subsidiary, Hawthorne Collective, sued investment firm, TerrAscend.
The lawsuit accused TerrAscend of trying to ruin the $247M acquisition of Etain Health.
- In March, an investment company funded by Hawthorne Collective, RIV Capital, announced the acquisition of Etain Health in a cash and stock deal.
- According to the lawsuit, TerrAscend’s executive chair, Jason Wild, also wanted to acquire Etain Health.
- Wild’s JW Asset Management is also the leading shareholder of RIV Capital.
- The lawsuit claims Wild tried to pressure RIV Capital’s board to call off the acquisition deal while attempting to take over its board of directors, suing RIV Capital in Canada, and threatening to buy a New York State hemp license.
- It alleges TerrAscend violated the Clayton Act, a federal antitrust law, by trying to stop RIV Capital from entering the New York-New Jersey market.
