Bright Green Hit With $104 Million Legal Blow Amid Bankruptcy Proceedings

Jury Finds Wrongful Cancellation of Shares

A New Mexico court has delivered a staggering financial verdict against cannabis firm Bright Green, awarding a former executive more than $104 million in damages. The ruling comes at a particularly challenging time for the company, which is currently navigating Chapter 11 bankruptcy protection.

This week, a jury determined that Bright Green improperly invalidated five million shares belonging to former manager John Fikany. The panel specifically assigned $103.1 million in damages for the unlawful cancellation of Fikany’s stock holdings. Both current CEO Lynn Stockwell and former CEO John Stockwell were found liable for the share cancellation.