Flair and Tyson filed a suit.
Ric Flair and Mike Tyson are suing their ex-partners in their marijuana business for $50 million. Front Office Sports published the story, and the site notes that Flair and Tyson have sued several former executives and a shareholder of CARMA, the global brand that partners with celebrities to create and distribute cannabis and wellness products. The wrestling and boxing world champions are suing them for alleged fraud, breach of contract, and other claims related to CARMA using Flair and Tyson’s likenesses.
In the 76-page filing that was filed in a U.S. District Court in Illinois, Flair, Tyson, CARMA, and LGNDS allege that Chad Bronstein, Adam Wilks, Nicole Cosby, and James Case participated in “brazen R.I.C.O. conspiracy involving criminal wire fraud, embezzlement, money laundering, and extortion, as well as securities fraud and shameless self-dealing that enriched the Defendants to the tune of tens of millions of dollars.”
Bronstein, Wilks, and Cosby, respectively, served as CARMA’s President and Chairman, CEO, and Chief Legal and Licensing Officer. James Case is a shareholder. CARMA and LGNDS came together to put out the Tyson 2.0 and Ric Flair Drip cannabis products.
One of the claims is that Bronstein, Wilks, and Cosby sold licensing rights that were not allowed to be sold under the agreements with Flair and Tyson. It was also alleged that Wilks had an undisclosed kickback deal with vape maker DomPen and received “concealed payments in exchange for turning a blind eye to DomPen’s unauthorized use of CARMA’s intellectual property.”
Attorneys for the defendants pushed back on the lawsuit.
Jonathan Cyrluk, attorney for Chad Bronstein and Nicole Cosby, issued the following statement to Front Office Sports:
The complaint is fiction dressed up as a lawsuit. Before filing, the plaintiffs tried to intimidate my clients with settlement demands that read more like a shakedown than a legal claim—demanding millions of dollars and attempting to force others to surrender their Carma shares. My clients won’t be bullied and are prepared to knock out this meritless lawsuit in court.
Terry Campbell, attorney for Adam Wilks, issued the following:
These claims are as credible as the people they come from—in short, the allegations are without substance. This is nothing more than an attempt to spit out an earful of salacious headlines and attempt to coerce my client into paying money to them when he did nothing wrong. We will fight these meritless allegations—both the facts and the law are squarely on our side.
The suit alleges that Bronstein and Wilks used CARMA as their “own personal piggy bank.” They used more than $1 million to pay for unauthorized travel on private jets, costs related to Bronstein’s personal yacht, renovations to his personal residence, mortgage payments for Wilks’ residence, including high-priced meals, in addition to excessive and unapproved compensation and bonuses.
Bronstein is a co-founder of Real American Freestyle alongside Terri Francis and the late Terry Bollea a.k.a. Hulk Hogan. Bronstein and Hogan also co-founded Real American Beer.
The plaintiffs are looking to secure a jury trial and more than $50 million in damages, legal fees, and other associated costs.
Back in July 2025, CARMA sued Bronstein and Cosby. They were accused of misappropriating confidential information about a beer development brand related to Hogan and Bronstein’s Real American Beer. The defendants filed a motion to dismiss, but the suit is still ongoing.
