The U.S. Securities and Exchange Commission sued California-based cannabis company C3 International Inc., CEO Steele Clarke Smith III and C3 President Theresa Smith Tuesday in California Central District Court over alleged violations of federal securities laws. The lawsuit accuses the defendants of defrauding investors out of approximately $2 million and making false statements regarding C3′s cannabis pill Idrasil. Lawyers have not yet appeared for the defendants. The case is 8:21-cv-01586, U.S. Securities and Exchange Commission v. C3 International, Inc. et al.
This suit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.
