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Agritek Holdings Inc. Announces Cease and Desist to Vape Holdings Inc. and Pending Law Suit for Intellectual Property Infringement and Employment Agreement Violations Against Former CEO Justin Braune
Agritek Holdings Inc. Announces Cease and Desist to Vape Holdings Inc. and Pending Law Suit for Intellectual Property Infringement and Employment Agreement Violations Against Former CEO Justin Braune.
About this update from Agritek Hldgs Inc
[{"type":"text","content":"\nAgritek Holdings Inc. Announces Cease and Desist to Vape Holdings Inc. and Pending Law Suit for Intellectual Property Infringement and Employment Agreement Violations Against Former CEO Justin Braune \n\nAgritek Holdings Inc. Announces Cease and Desist to Vape Holdings Inc. and Pending Law Suit for Intellectual Property Infringement and Employment Agreement Violations Against Former CEO Justin Braune\n\n\n LOS ANGELES, CA--(Marketwired - April 20, 2016) - Agritek Holdings, Inc. (OTC PINK: AGTK) (http://www.Agritekholdings.com), a leader in Compassionate Care Technology and agricultural solutions for the recreational cannabis industry, today announced that the Company has sent a Cease and Desist Letter To Vape Holdings Inc. and its CEO Mr. Justin Braune. Agritek Holdings is preparing a law suit against Vape Holdings and Mr. Braune for intellectual property infringement and violation of Mr. Braune's employment agreement under non-compete clauses. The cease and desist contends that the present vaporizer device and cartridge being sold as Vape Holding's \"Revival Vape's\" product line was designed and developed during Mr. Braune's tenure as Chief Executive Officer of Agritek Holdings under the Company's wholly owned subsidiary Prohibition Products Inc. with Mr. Braune as President of Prohibition Products. The same exact device was developed and sold under the Company's www.ProhibitionLife.com website and brand.The complete product video for Agritek and Prohibition Life may be seen here:\n http://www.cannabisfn.com/cfnvideo/?id=nhB7NUv6\n The Company plans to outline in its suit for monetary damages and attachment of the Revivalvapes.com site revenues on the basis that all design, prototypes, marketing materials, eCommerce web site and roll out strategy were blatantly taken and reproduced under a different name upon Mr. Braune's unexpected resignation from Agritek Holdings. The Company will additionally show that Mr. Braune and Agritek management had previously negotiated an asset purchase of the Prohibition device through Letters of Intent and purchase agreements drafted by Vape Holdings counsel entitling Agritek to royalties and equity payments on each device sold. The company further has all correspondence from the development of the device, original prototypes and cartridges as well as a signed employment ag...