Less than a month after short seller Grizzly Research published a report claiming that Trulieve Cannabis Corp (OTC: TCNNF) is “a fraud,” Trulieve has filed a lawsuit against Grizzly Research, GeoInvesting, GeoInvesting analyst Siegfried Eggert and two other men alleging the group libeled the cannabis company and violated several laws in compiling and releasing the report.
The Short Report
In Grizzly’s original report on Trulieve in December, the short seller accused Trulieve of producing low-quality cannabis and suggested the husband of Trulieve CEO Kim Rivers is “at the very center of the FBI probe” and “the right-hand man of disgraced politician Scott Maddox.”
Grizzly called Rivers and Trulieve “crooks” and said the company has “outright lied” in its financial disclosures and used “accounting maneuvers” to deceive investors.
In an official statement following the report, Trulieve said it “sells high quality flower” and stands behind the quality of its products.
Trulieve shares initially dropped 12.6% following the release of the report and remain down about 3% overall since its release.
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On Friday, Trulieve responded by filing a lawsuit against Grizzly in Gadsden County, Florida.
Grizzly trespassed on Trulieve’s Florida