Winklevoss Capital is being sued, Page Six has exclusively learned, for allegedly backing out of a deal to buy stock from an investor in Silicon Valley marijuana delivery app Eaze — dubbed the “Uber for weed” with backers such as pot-loving rapper Snoop Dogg.
According to the suit filed in Delaware court, the Winklevii — the genetically blessed entrepreneurial twins best known for their squabble with Facebook’s Mark Zuckerberg, and subsequent backing of bitcoin — signed a contract to buy shares from investor Todd Steinberg, but pulled out.
The suit, filed last month, claims that Steinberg was one of Eaze’s first investors back in 2014, but that he sought to shop shares in the privately held company last year. The Winklevoss’ fund agreed to purchase about $465,000 worth, Steinberg’s suit alleges, and even had a term sheet in place. But the twins called off the deal after a new Eaze CEO was named late last year, even though the company gave the stock sale its blessing.
Steinberg’s suit says his broker could not find a new buyer to cover for the twins.
Winklevoss Capital is an investor in startups such as Caviar, Paddle8 and MiniBar and separately invested in Eaze’s $13 million “series B financing round” in 2016.
“Just because you are rich and famous doesn’t mean you can default,” Steinberg commented. “It’s the difference between right and wrong.” He added, “I have never been sued, and, until now, I have never been forced to sue anyone . . . I believe in honoring my commitments. Unfortunately, I have had the opposite experience with Cameron and Tyler Winklevoss . . . I believe it is time that somebody stands up to them.”
A rep for Winklevoss Capital did not immediately respond to a request for comment.