The acrimony between iAnthus (OTC: ITHUF) and Beth Stavola’s MPX NJ is heating up. Last week, MPX NJ sued the troubled iAnthus Capital Management and its New Jersey subsidiary. MPX is saying that iAnthus is improperly going after the operation of the Pleasantville Alternative Treatment Center by trying to negotiate with regulators.
The two companies have a shared lease for the dispensary, but MPX NJ is insisting that it is the company that was awarded the permit in 2018 and that the master services agreement that iAnthus cites as its authority, has not been approved by the New Jersey State of Health. Stavola sold her original cannabis assets to MPX Bioceuticals and then proceeded to build that company to become an attractive property, which iAnthus acquired for TK. She was the founder and CEO of Stavola Medical Marijuana Holdings, Health for Life Inc, GreenMart of Nevada and CBD For Life.
According to the New Jersey Globe, the suit states, “These actions cannot stand, as they threaten MPX NJ’s ATC permit, expose it to liability from third parties, and tarnish its reputation, as well as that of its owners, across the cannabis industry.” The lawsuit asks the judge, Monmouth County Superior Court Judge Joseph Quinn, to keep iAnthus from acting on behalf of MPX and declare MPX NJ as the owner of the dispensary rule that the master services agreement is no good until it is approved by the New Jersey Department of Health. Quinn will hear oral arguments on the temporary restraints sought by Stavola at 11 a.m. Wednesday.
The Globe said that the filing alleges further wrongdoing by iAnthus. Stavola, a former executive at the marijuana industry giant, left the firm and its subsidiaries in August, the suit says. But in September, iAnthus told regulators in Nevada she was still CEO