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Private Equity
FINANCIAL | Investment Firms & Funds
privateerholdings.com

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Founded Year

2011

Stage

Merger | Merged

Total Raised

$240M

About Privateer Holdings

Privateer Holdings is a private equity firm in the cannabis industry.

Privateer Holdings Headquarter Location

1920 Eastlake Avenue E

Seattle, Washington, 98102,

United States

206-432-9325

Latest Privateer Holdings News

Cannabis producer Tilray wins dismissal of shareholder lawsuit in New York

Sep 28, 2021

September 28, 2021 - Advertisement - NEW YORK, Sept 27 (Businesshala) – A US judge on Monday dismissed a lawsuit accusing Tilray Inc. (TLRY.TO), the world’s largest cannabis producer by sales, of having sold a Fraudulently inflated the value of marketing and revenue-sharing agreements. - Advertisement - US District Judge Paul Crotty in Manhattan said shareholders failed to show that the Canadian company exhibited “conscious misconduct or negligence” in trumpeting the agreement when it knew regulatory uncertainty over cannabis-based products was driving customer demand. will reduce - Advertisement - “Tilray certainly appears to have underestimated both the value of the ABG protocol and the potential for accidental regulatory change, by orders of magnitude,” Crotty wrote. “But being wrong – even embarrassingly – is not the same as being dishonest.” Crotty also said shareholders failed to show that former chief executive Brendan Kennedy intended to defraud him by arranging a “downstream merger” between Tilray and his privateer Holdings Inc. in December 2019 to ensure that the privateer retained voting control over Tilray and received tax benefits. - Advertisement - The judge said the shareholders can file a fresh complaint to try to remedy the deficiencies in their case. Shareholders’ attorneys did not immediately respond to requests for comment. Tilray and its lawyers did not immediately respond to similar requests. On March 2, 2020, shareholders wrote off the ABG agreement’s value by approximately 86%, or $102.6 million, after Tilray, citing regulatory uncertainty, and reported lower-than-expected inventory and margins. Tilray’s stock price fell 15% the next day, and with the onset of the COVID-19 pandemic, fell 84% in half a month. A Delaware state judge said Crotty ruled nearly four months after that investors could sue the downstream merger and seek a “fairness review” because the transaction provided a “unique” tax advantage to Privateer’s founders. Case Cassin et al v Tilray Inc et al, US District Court, Southern District of New York, No. 20-03459. Reporting by Jonathan Stempel in New York; Editing by Stephen Coates .

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Research containing Privateer Holdings

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CB Insights Intelligence Analysts have mentioned Privateer Holdings in 2 CB Insights research briefs, most recently on Mar 2, 2020.

Expert Collections containing Privateer Holdings

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Privateer Holdings is included in 1 Expert Collection, including Cannabis.

C

Cannabis

3,619 items

These companies participate in - or service businesses that participate in - the legal cannabis industry. Our definition of cannabis includes both marijuana and hemp (and all derivatives). The collection includes both "plant-touching" and "non-plant-touching" businesses.

Privateer Holdings Patents

Privateer Holdings has filed 2 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/16/2011

8/28/2012

Promotion and marketing communications, Supply chain management, Product management, Communication design, Data management

Grant

00/00/0000

00/00/0000

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Application Date

5/16/2011

00/00/0000

Grant Date

8/28/2012

00/00/0000

Title

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Related Topics

Promotion and marketing communications, Supply chain management, Product management, Communication design, Data management

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Status

Grant

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