Bright Green owes $104M for unpaid shares

The cannabis industry is no stranger to controversy, but few cases have drawn as much attention as the recent multimillion-dollar verdict involving Bright Green. As debates continue about corporate governance, shareholder rights, and the future of cannabis production, the company finds itself at the center of a national conversation. Many industry observers say the legal battle could shape how similar disputes are handled in the future, especially as companies like Bright Green navigate bankruptcy, mergers, stock volatility, and large-scale cultivation ambitions.

Nov. 15 A Cibola County jury this month awarded a business consultant more than $104 million after it found that the New Mexico-based cannabis producer Bright Green Corp. wrongly deprived him of 5 million shares in the company.

The jury handed down its verdict on Nov. 4, finding that the company's CEO had tried to claw back the shares initially given to John Fikany, a Michigan business consultant, to secure a lease agreement with Acoma Pueblo and federal approvals for a massive medical cannabis growing operation near Grants. Fikany's attorney, Eric Sirotkin, called the $104.6 million jury award the largest employment-related verdict ever awarded in New Mexico.

Sirotkin also said that the value of the shares shot up after Bright Green withdrew Fikany's ownership of the stock, with the price ultimately peaking at $58 a share.

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