Tauheed K. Epps, who is better known by his stage name 2 Chainz, is claiming that he invested $1.5 million into a Los Angeles cannabis company in a deal that quickly went south, which has left the famous rapper out of nearly his entire investment. The situation has brought to light a few of the ongoing legal battles surrounding the cannabis industry in California.
According to a report made by Law360.com, an investment company called Antimatter Holdings filed a lawsuit in early August claiming that the rapper had been scammed by the Pineapple Express dispensary in Hollywood. The lawsuit has stated that the Atlanta native was introduced to the company by Damien Roderick, who is Shoop Dog’s tour manager, and that 2 Chainz later arranged to invest $1.5 million in the dispensary.
2 Chainz is a Grammy-award-winning rapper who won his first award in 2017 as a featured artist on Chance the Rapper’s single “No Problem.” 2 Chainz has also been nominated for other Grammy awards and is one of the most well-known rappers in the trap style—a genre that originated in Atlanta and is known for slower deep bass beats. 2 Chainz is a noted fan of marijuana and has appeared in a Vice series that follows him as he samples weed products.
The Pineapple Express dispensary’s owners reportedly told 2 Chainz that the shop would be running by April 2021. However, the opening did not happen until March 2022 due to several issues. The lawsuit has also stated that 2 Chainz’s investment had a monthly dividend and that he could reclaim 110% of his money back whenever he liked as long as he gave a 30-day notice.
Antimatter Holdings tried to recoup the money in May 2022, but Pineapple Express made no payments. In December 2022, 2 Chainz reached out to the co-founder of the dispensary, Vincent Zadeh, about the repayment, but according to the lawsuit, he was told that the company would not honor the terms of their deal.
In a statement made to SFGATE, Matthew Feinstein, a co-founder of Pineapple Express, said that the lawsuit is filed with false claims and that arbitration will be filed where the matter can be settled outside of court.
This isn’t the first time that Pineapple Express has been hit by a lawsuit, as they’ve previously been sold by several investors, and allegedly never filed income taxes while owing almost $1.69 million in back taxes.
The store Pineapple Express has since been closed, but Feinstein claims he will try to reopen the location in September.
2 Chainz has managed several other business deals that are currently going strong. A previous report by AFROTECH™ notes that 2 Chainz and Mychel “Snoop” Dillard co-own the Atlanta, GA-based Esco Restaurant and Tapas, which established its first location in Columbus, OH in 2022.
“It’s more lounge with great food and great atmosphere. Of course, we have the best drinks in town,” 2 Chainz told Franchise Times.
2 Chainz’s portfolio also includes Smoothie King. He is now a franchisee along with his friend Philip Jones, and they have a location in the State Farm Arena in Atlanta, GA.
“As we continue to expand, we’re thrilled to welcome 2 Chainz to our franchisee family—not to mention in collaboration with one of our great partners in the Atlanta Hawks,” said Wan Kim, Smoothie King CEO, in a news release. “2 Chainz’s passion for health and wellness aligns perfectly with our mission to inspire a healthy and active lifestyle; that coupled with his entrepreneurial spirit, embodies the essence of our brand and makes this a perfect match.”
