Law360 (May 24, 2021, 10:49 PM EDT) — CBD company India Globalization Capital has urged a New York federal judge to ax most claims sprung by Apogee Financial Investments blaming the cannabinoid research company for the downfall of a brokerage it bought, arguing that it never owed the investment company any fiduciary duty.
IGC and its CEO Ramachandra Mukunda argued in their partial motion to dismiss that merely entrusting someone to be a fiduciary does not establish such a relationship under Florida law, which they said likely applies to the breach of fiduciary duty claims. Rather, the other party must accept that role, and Apogee does not allege that IGC…
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