The legal case Kasilingam v. Tilray, Inc., et al. accuses Tilray of several wrongdoings, including securities fraud, breach of fiduciary duties, waste of corporate assets, and violations of the Exchange Act. The plaintiff claims that Tilray falsely inflated its gross margins by considering unusable marijuana plant waste as valuable inventory. The former CEO, Brendan Kennedy, is accused of making false and misleading statements to stockholders to gain personal voting control over the company. The lawsuit also alleges that Kennedy overstated the value of the ABG Agreement during the merger with Aphria, resulting in a significant write-down. The plaintiff seeks damages, equitable relief, and corporate governance reforms on behalf of Tilray. Furthermore, the lawsuit claims that the board of directors failed to protect and preserve the corporation's assets by not promptly securing tolling agreements for claims belonging to the company, which amounts to a violation of the board's fiduciary duties to Tilray and its stockholders.