Select Page

Dan Bilzerian’s cannabis company allegedly fails to produce requested legal documents, again

Media Partners, The GrowthOp

This post is presented by our media partner The Growth Op
View the original article here.

A judge has ordered Ignite to produce the documents within five days

Article content

Dan Bilzerian’s cannabis company, Ignite International Brands, is facing a court order to turn over 65 documents in a contract dispute case with Consulting by AR LLC.

Advertisement 2

Story continues below

Article content

A judge has ordered Ignite to produce the documents, which it was first asked to provide last August and again in February, within five days. Ignite has also been ordered to pay the attorney fees and costs incurred by Consulting by AR LLC. Ignite will face sanctions like daily fines until it produces the documents, according to Green Market Report.

Article content

Citing a report from Law360, lawyers representing Ignite said they believe the order is a mistake and that the company had “updated its privilege log as directed by the court, and that the court therefore does not have authority to find it in contempt and levy sanctions.”

The case dates back to August 2021, when Ignite sued Consulting by AR, saying it had paid the consulting company to secure a contract, which never materialized, with Resorts World Las Vegas to purchase Ignite’s products. Consulting by AR, however, says it did manage to secure a contract and the terms were even more favourable than Ignite had initially asked for. 

Article content

Advertisement 3

Story continues below

Article content

It’s not the only legal trouble plaguing the company, as it is also facing a U.S. Securities and Exchange Commission investigation into potential accounting fraud regarding its 2020 financial results

The agency issued a litigation release last August, noting that it “has filed an action against Ignite International Brands, Ltd., a publicly traded company based in Ontario, Canada, seeking an order directing it to comply with an investigative subpoena for documents.”

Ignite has also failed to produce the requested documents in that case, which include accounting records, purchase orders and other invoices. That same month the company, which had previously been publicly traded on the Canadian Securities Exchange, went private.

Advertisement 4

Story continues below

Article content

Ignite sells a line of cannabis and CBD products, such as CBD-infused lip balm, and reportedly lost $67 million in 2019. The company continues to sell its products online.

Bilzerian, the CEO of Ignite and a former professional poker player, routinely documents a lavish lifestyle on his Instagram account, which has more than 33 million followers. He is the son of millionaire Paul Bilzerian, who served 13 months in prison in the 1980s as a result of filing incomplete disclosures to the SEC.

The company pulled out of the Canadian market in 2021, citing “too many barriers to build a successful cannabis business.”

“The government’s excessive restrictions of the marketing, sales and distribution of products has diminished the business opportunity while simultaneously making the consumer experience less than optimal,” Bilzerian said at the time.

Recommended from Editorial

  1. Bilzerian, the CEO of Ignite and a professional poker player, routinely documents a lavish lifestyle on his Instagram account. PHOTO BY DAN BILZERIAN INSTAGRAM

    Dan Bilzerian’s Ontario-based cannabis company under investigation

  2. none

    Dan Bilzerian’s cannabis company, one that sells CBD toothpicks, is in big trouble

  3. FILE: Dan Bilzerian, CEO of Ignite International Brands, Ltd. /

    IGNITE opts to pull out of cannabis in Canada

Article content


Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

Join the Conversation

    Advertisement 1

    Story continues below

    This Week in Flyers

    This post was originally published by our media partner here.