Visit the Dionymed Brands Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors.
DionyMed Subsidiary Sues to Stop Eaze Credit Card Processing
TORONTO, June 05, 2019–(BUSINESS WIRE)–Herban Industries CA LLC (“Herban”) today filed suit in the California Superior Court for the County of San Francisco against Eaze Technologies, Inc. (“Eaze”) seeking an injunction to halt Eaze’s processing of credit and debit cards through its website and app. Herban is a wholly-owned subsidiary of DionyMed Brands Inc. (“DionyMed” or the “Company“) (CSE: DYME; OTCQB: DYMEF), a multi-state cannabis brands, distribution and direct-to-consumer delivery platform. The complaint alleges that “to gain an unfair competitive advantage in the California cannabis delivery market, Eaze is directing, coordinating, and participating in a scheme to defraud credit card companies and financial institutions into processing cannabis transactions in violation of a host of criminal laws,” including prohibitions against wire fraud and bank fraud. The complaint alleges Eaze carries out this conspiracy using offshore payment processors and a series of shell companies to conceal the cannabis nature of card purchases made on its platform. As relief, the complaint seeks an injunction to halt Eaze’s credit and debit card processing and an end to its unfair competition against Chill, DionyMed’s direct-to-consumer platform.
Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult use cannabis markets. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. DionyMed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfillment with its growing portfolio of award-winning brands. Learn more at dionymed.com and follow @DYME_Inc on Twitter and LinkedIn.
For fact-based information on Dionymed Brands, view the company’s sponsored Investor Dashboard.
Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.