Responds to Frivolous Claims Filed by Former Employee in California’s Superior Court
Pelorus Capital Group (“Pelorus” or “the Company”), a leading provider of commercial real estate loans for the cannabis sector, issued the following statement following a favorable ruling in an arbitration granting Pelorus a preliminary injunction against former employee Travis Goad enjoining him and all persons acting in concert with him from committing further breaches of their confidentiality obligations to the Company. The statement also addresses frivolous, meritless claims made by Goad in California’s Superior Court.
“The arbitrator granted our request for an injunction because we were able to provide compelling evidence Pelorus would suffer irreparable harm if Goad continued to breach his confidentiality obligations to the Company. Based on his conduct, it is clear that Goad is motivated by self-serving interests and for the purpose of extorting favorable treatment for himself and a small group of Pelorus Fund investors. The day prior to the issuance of the injunction, Goad filed a frivolous lawsuit in the California Superior Court to further advance his personal interests.
Following his resignation from Pelorus in May 2024, we discovered Goad had breached his confidentiality agreements by improperly disclosing confidential and privileged information, resulting in the forfeiture of his interests in the Company and its affiliates. Goad then used this information to coordinate a covert campaign with former and current Pelorus Fund investors to discredit and replace Pelorus Chief Executive Office, Daniel Leimel, and President, Robert Sechrist, as managers of the Company.
The state court complaint is another attempt by Goad to misguide Pelorus investors for personal gain. Given the sequence of events, plaintiffs’ primary objective appears to be to generate negative publicity rather than to protect the interest of the Pelorus Fund and its investors. Further, the demands for the removal of Daniel Leimel and Robert Sechrist as managers of Pelorus echo a similar strategy previously pursued by Goad, once again demonstrating that the filing of this claim is motivated by a personal vendetta.
Pelorus has been and remains committed to treating all its LPs fairly, and we reject any attempts to compromise that principle for the benefit of a select few, regardless of the bullying tactics employed. We welcome the opportunity to prove the baseless nature of these claims through the appropriate legal process. As managers of the Pelorus Fund, we will remain focused on executing our long-term strategy to provide sustainable value for the benefit of all of our investors.”
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