In the wake of revenue and stock price declines, the founders of Colorado-based CBD and hemp company Charlotte’s Web Holdings want to rejoin its board of directors and block the appointment of four nominees.
The company’s founders, brothers Jesse and Joel Stanley, urged fellow shareholders in a news release to join a group of “concerned shareholders,” which includes Major League Baseball, in withholding votes for four of six new director nominees ahead of Charlotte’s Web’s annual general meeting scheduled for June 15.
ADVERTISEMENT
The concerned shareholders own 24.66% of the company’s shares, according to the release.
Charlotte’s Web was chosen as the first CBD sponsor of Major League Baseball last October.
The Stanley brothers chose to go public with their concerns after they said the company’s board didn’t respond to their request that the current four nominees not stand for election.
The Stanley brothers also asked that
Read full article on Marijuana Business Daily
