Winklevoss pot deal is going up in smoke

An investor in a buzzy hashish supply startup claims that he was once set to promote just about $500,000 in stocks to Cameron and Tyler Winklevoss, however the deal went up in smoke when the brothers subsidized out.

Winklevoss Capital is being sued, Web page Six has solely discovered, for allegedly taking flight of a deal to shop for inventory from an investor in Silicon Valley marijuana supply app Eaze — dubbed the “Uber for weed” with backers equivalent to pot-loving rapper Snoop Dogg.

In step with the swimsuit filed in Delaware courtroom, the Winklevii — the genetically blessed entrepreneurial twins easiest recognized for his or her squabble with Fb’s Mark Zuckerberg, and next backing of bitcoin — signed a freelance to shop for stocks from investor Todd Steinberg, however pulled out.

The swimsuit, filed closing month, claims that Steinberg was once one in all Eaze’s first traders again in 2014, however that he sought to buy stocks within the privately held corporate closing yr. The Winklevoss’ fund agreed to buy about $465,000 value, Steinberg’s swimsuit alleges, or even had a time period sheet in position. However the twins referred to as off the deal after a brand new Eaze CEO was once named overdue closing yr, even if the corporate gave the inventory sale its blessing.

Steinberg’s swimsuit says his dealer may just no longer discover a new purchaser to hide for the twins.
Winklevoss Capital is an investor in startups equivalent to Caviar, Paddle8 and MiniBar and one after the other invested in Eaze’s $13 million “sequence B financing spherical” in 2016.

“Simply since you are wealthy and well-known doesn’t imply you’ll be able to default,” Steinberg commented. “It’s the adaptation between proper and mistaken.” He added, “I’ve by no means been sued, and, till now, I’ve by no means been pressured to sue any person . . . I imagine in honoring my commitments. Sadly, I’ve had the other revel in with Cameron and Tyler Winklevoss . . . I imagine it’s time that any person stands as much as them.”

A rep for Winklevoss Capital didn’t in an instant reply to a request for remark.

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