This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Ignite International Brands Ltd. has won an interim injunction in the Supreme Court of British Columbia against its former chief executive officer, Dan Bilzerian, preventing him from competing with the company. Ignite complained that Mr. Bilzerian had been using the company's confidential information about suppliers and marketing to develop a line of competing vapes. He designed the vapes to be nearly identical to Ignite's products and promoted them using social media content owned and paid for by Ignite, the company said.

The injunction is contained in a judgment released on Friday, March 28. The decision comes as part of a legal battle between Mr. Bilzerian and Ignite, encompassing multiple court files, that erupted after the company ousted Mr. Bilzerian in mid-2024. Mr. Bilzerian claims that a group led by current CEO Scott Rohleder removed him in a "blatantly illegal corporate raid" and says that he remains the company's rightful chairman.

Prior to the dispute, Mr. Bilzerian was the public face of Ignite, promoting the stock through social media accounts that attracted an audience of millions, with most of them being young males. He regularly posted photos of fancy cars, private planes and women wearing company-branded bikinis. He used the account to market Ignite's products, which included vapes and clothing.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS