High Times Hit With $5M Class Action Lawsuit Over Unfulfilled Stock Deals
Investors disillusioned with High Times initiated a class action lawsuit at the end of June, targeting the magazine known for its storied legacy in cannabis culture but now in receivership. Amid ongoing financial hurdles, the claimants, led by Mark C. Donius and Jill L. Donius, seek restitution for unfulfilled stock transactions.
Failed Investments And Mismanagement Allegations
The controversy began when the Doniuses attempted to invest $5,500 in 2021, transferring funds to what they believed was a reliable escrow service, Prime Trust, reports Debra Borchardt at Green Market Report. Despite receiving initial confirmation, the transaction faltered. The shares, intended to be managed by Equiniti Trust Company, never materialized in the investors’ accounts. The situation escalated when the couple, after numerous inquiries, received a vague update in 2023 regarding the updating of investor registrations, followed …