A cannabis company is being sued in Los Angeles Superior Court by an investment company representing rapper 2 Chainz. The “I’m Different” hitmaker is suing the Los Angeles-based company after losing his $1.5 million investment.
In 2021, 2 Chainz, real name Tauheed K. Epps, invested in Antimatter Holdings, an investment LLC. He subsequently decided to invest in the Pineapple Express dispensary in Hollywood. The dispensary, operated by Pineapple Ventures, Inc. and PNPLXPRESS, INC., promised to open by April 2021, but a series of delays pushed the opening back nearly a year, with the store finally launching in March 2022.
In addition to a monthly dividend, 2 Chainz ad the option to withdraw 110% of his money with 30 days’ notice. The lawsuit alleges that Antimatter Holdings failed to comply with Antimatter Holdings’ request for a return of its investment in May 2022.
In December 2022, 2 Chainz personally contacted Vincent Zadeh, the dispensary’s cofounder, to learn that the company would no longer honor the agreement. Since then, the dispensary has closed.
It’s not the first lawsuit against Zadeh. Investors and business partners have also taken legal action, including one case in which the company allegedly failed to file income taxes, resulting in nearly $1.69 million in back taxes.
Matthew Feinstein, a co-founder of Pineapple Express, told the SFGATE that the lawsuit contains false claims, including the assertion that 2 Chainz is owed money. According to Feinstein, the matter would be arbitrated.
More as this story develops.