NAD Capital: Boosh Plant-Based Brands, Inc. and Beanfields Sued

LOS ANGELES, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Los Angeles-based entity NAD Capital has filed a Breach of Contract, Breach of Implied Covenant and Good Faith and Fair Dealing and Fraud lawsuit against Canadian-based Boosh Plant-Based Brands Inc. Also named in the suit is founder and CEO of Boosh Plant-Based Brands, Connie Marples, and 20 unnamed defendants. The lawsuit was filed in Los Angeles and relates to Boosh Plant-Based Brands' February 2022 acquisition of Beanfields Snacks, Inc. Plaintiff seeks both compensatory damages and attorney fees.

The lawsuit alleges that Boosh Plant-Based Foods made various misrepresentations about the health of its business and failed to make required payments in return for its introduction and referral to Beanfields Snacks, Inc., and for ongoing strategic counsel, operational and consulting services performed related to the 2022 acquisition of Beanfields Snacks, Inc. The lawsuit further alleges that Boosh falsely represented itself as a viable concern, yet was undercapitalized, did not maintain corporate formalities and did not pay regular dividends to shareholders, thereby committing fraud.

Plaintiff is represented by law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks, Lincenberg & RHOW P.C.