Nation Lawyers Obtains Default from Florida Court for Client, PotNetwork Holdings, Inc., in Pending Lawsuit Against Thunder Energies Corporation

Rhea-AI Summary

Nation Lawyers Chartered secured a Florida court-ordered default judgment against Thunder Energies Corporation and related entities, representing PotNetwork Holdings (POTN). This legal action stems from allegations of misappropriation of confidential business information and interference with business relationships by the defendants. The court's ruling on January 26, 2021, allows the plaintiff to pursue monetary damages and other legal remedies. An ex-parte motion to compel compliance with discovery demands was granted on February 1, 2021, aiding in the determination of damages owed.

Positive

• Court granted a default judgment, favoring PotNetwork Holdings.
• Potential for monetary judgment to be awarded to PotNetwork Holdings.

Negative

• Lawsuit indicates serious allegations against Thunder Energies that could harm its reputation.
• Failure to disclose litigation to investors may lead to regulatory scrutiny.

Nation Lawyers Chartered, announced today that it had obtained a Florida court ordered Default against Thunder Energies Corporation, d/b/a the Hemp Plug, LLC and Nature Consulting, LLC on behalf of its client, PotNetwork Holdings, Inc. (OTC Pink: POTN ).

About the Case. On November 16, 2020, First Capital Venture Co., a subsidiary of the client, d/b/a Diamond CBD, filed a civil “Verified Complaint” against Thunder Energies Corporation, f/k/a Thunder Fusion Corporation and CCJ Acquisition Corp, d/b/a the “Hemp Plug, LLC” and “Nature Consulting, LLC,” and certain individuals, (the “Defendants”), in the pending 17^th Judicial Circuit Court in and for Broward County, Florida, (the “Florida Court”), Case Number CACE-20-019111 (the “Complaint”).

First Capital Venture Co., as Plaintiff, alleged that the Defendants misappropriated Diamond CBD’s customer and distributor lists, and other confidential, proprietary files, documents and trade secrets, interfered with Diamond CBD’s business relationships with customers and employees, and used said information to compete against Diamond CBD. Plaintiff also alleged that the Defendants had acted maliciously, in “bad faith” and willful wanton disregard of existing agreements with Diamond CBD, and had deliberately ignored “cease and desist” demands and warning letters sent before the filing of the Complaint.

In addition, Plaintiff alleged that the Defendants have failed to disclose to investors in its filings with OTC Markets and the Securities and Exchange Commission (Thunder Energies’ CIK#0001524872) the existence of this litigation.

On January 26, 2021, as a result of the Complaint, the Florida Court reviewed and granted a “Motion and Order of Default” against the Defendants. After entry of the Default, Plaintiff is poised to seek monetary judgment, the amount of which will be determined in the pending lawsuit, plus injunctive relief and other remedies in law and equity to include compensation for lost revenues, legal fees and expenses.

As a result of continued efforts by Nation Lawyers, on February 1, 2021, the Court granted an “Ex-Parte Motion to Compel” that the Defendants failed to respond to the Plaintiff’s December 3, 2020 discovery demand, which will be utilized in part to determine the amount of monetary damages due the Plaintiff.

Legal counsel to First Capital Venture Co. is Jonathan Jaffe, Esquire of Nation Lawyers Chartered, who announced the entry of the default in the pending litigation.

About Nation Lawyers Chartered. Serving Florida from West Palm Beach to the Keys, and headquartered in Sunrise, Florida, outside Ft. Lauderdale, Nation Lawyers Chartered is a professional corporation comprised of a knowledgeable and experienced team of attorneys, paralegals, and support staff providing services in the numerous areas of federal and state law and regulation, including civil and criminal matters, immigration, real estate, family, consumer, business law and complex litigation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210209005121/en/

FAQ

What is the recent court ruling involving POTN?

A Florida court granted a default judgment against Thunder Energies Corporation in favor of PotNetwork Holdings (POTN) due to allegations of misappropriation of confidential information.

What are the allegations against Thunder Energies Corporation?

Thunder Energies Corporation is accused of misappropriating customer and distributor lists and interfering with business relationships with Diamond CBD.

What legal actions are being pursued by PotNetwork Holdings?

PotNetwork Holdings is seeking monetary damages, compensation for lost revenues, and injunctive relief as part of the ongoing legal case.

When was the default judgment entered against Thunder Energies?

The default judgment was entered on January 26, 2021.

What does the ex-parte motion to compel signify for the case?

It requires the defendants to comply with discovery demands, which will assist in assessing the monetary damages owed to PotNetwork Holdings.