Hemp Co., Microcap Investor Can’t Shake $11 Million Scalping Suit

By Sarah Jarvis (January 19, 2022, 9:27 PM EST) – A federal judge in New York has rejected severance offers by a hemp products company and a company that acquires and sells microcap securities, which are accused of to be involved in an $11 million stock “scalping” scheme, finding the US Securities and Exchange Commission’s allegations acceptable.

U.S. District Judge Alvin K. Hellerstein said in an order Tuesday that GPL Ventures LLC and HempAmericana Inc. could not shake the SEC’s claims, rejecting various arguments the entities and related parties had made in their motions to dismiss. of November. Among other things, the court rejected the arguments of GPL, a related entity and two…

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