Winklevoss pot deal goes up in smoke

Winklevoss pot deal goes up in smoke

An investor in a buzzy cannabis supply startup claims that he used to be set to sell nearly $500,000 in stocks to Cameron and Tyler Winklevoss, but the deal went up in smoke when the brothers sponsored out.

Winklevoss Capital is being sued, Web Page Six has exclusively realized, for allegedly taking flight of a deal to shop for inventory from an investor in Silicon Valley marijuana delivery app Eaze — dubbed the “Uber for weed” with backers reminiscent of pot-loving rapper Snoop Dogg.

Consistent With the go well with filed in Delaware courtroom, the Winklevii — the genetically blessed entrepreneurial twins best possible identified for his or her squabble with Facebook’s Mark Zuckerberg, and next backing of bitcoin — signed a contract to shop for stocks from investor Todd Steinberg, however pulled out.

The go well with, filed ultimate month, claims that Steinberg used to be one in all Eaze’s first buyers again in 2014, however that he sought to shop stocks within the privately held corporate last 12 months. The Winklevoss’ fund agreed to purchase about $465,000 value, Steinberg’s go well with alleges, or even had a time period sheet in place. however the twins referred to as off the deal after a new Eaze CEO was once named overdue final 12 months, despite the fact that the company gave the inventory sale its blessing.

Steinberg’s swimsuit says his broker couldn’t to find a brand new purchaser to hide for the twins.
Winklevoss Capital is an investor in startups akin to Caviar, Paddle8 and MiniBar and one at a time invested in Eaze’s $THIRTEEN million “series B financing spherical” in 2016.

“just because you might be rich and well-known doesn’t imply you can default,” Steinberg commented. “It’s the difference between proper and unsuitable.” He delivered, “i’ve by no means been sued, and, beforehand, i have never been pressured to sue anyone . . . I THINK in honoring my commitments. Unfortunately, i’ve had the opposite experience with Cameron and Tyler Winklevoss . . . I FEEL it is time that somebody stands up to them.”

A rep for Winklevoss Capital did not instantly reply to a request for comment.

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