Legal & Regulatory News for Marijuana Businesses

Judge Tosses Fourth Corner Banking Lawsuit

Omar Sacirbey  | January 6, 2016

The marijuana industry’s hope for a solution to its banking woes suffered a major setback Tuesday when a federal judge dismissed a lawsuit filed by a startup financial institution hoping to serve cannabis companies.

The Fourth Corner Credit Union filed the suit last year after the Federal Reserve Bank of Kansas City denied its request …

Legal Settlement Hands Marijuana Industry a Setback

Omar Sacirbey  | January 4, 2016

An anti-drug group has prevailed in its legal fight against a Colorado cannabis store and several financial services companies, which could present new challenges for the marijuana industry down the road.

The settlement is tied to a lawsuit Safe Streets Alliance filed on behalf of a Holiday Inn in the town of Frisco, Colorado. The suit …

Year in Review: New Marijuana Markets, Booming Rec Sales and Banking Retreat

John Schroyer  | December 31, 2015

By John Schroyer

This is the first entry in a three-part series looking at key marijuana business developments in 2015 and examining what lies ahead for 2016.

The past 12 months have been a whirlwind for the cannabis industry, with new business opportunities popping up regularly in the United States and abroad.

Third Michigan Marijuana Measure Clears Initial Hurdle

Omar Sacirbey  | December 30, 2015

Michigan election officials have approved the language of a third ballot measure to legalize recreational marijuana in the state.

Abrogate Prohibition Michigan must now gather 315,000 legitimate petition signatures to get its ballot initiative in front of voters next November.

While the competing measures suggest strong interest in recreational marijuana legalization – with polls …

Monopoly Suit Against CA Dispensaries Thrown Out

Omar Sacirbey  | December 28, 2015

A U.S. federal judge has thrown out a lawsuit claiming that Berkeley, California, and three local dispensaries colluded to corner the city’s medical marijuana market.

Plaintiff Christopher Smith sued the Berkeley City Council, the city’s Medical Cannabis Commission, and the dispensaries Berkeley Patients Group, Berkeley Patients Care Collective and Cannabis Buyers Club of Berkeley, claiming that they violated …

MMJ Miracle Still Possible in Pennsylvania This Year, But Odds Slim

John Schroyer  | December 24, 2015

By John Schroyer

One of the biggest disappointments for the marijuana industry this year has been the complete dearth of new states legalizing medical or recreational marijuana.

After a proposal to approve cannabis sales imploded in Ohio during the November elections, entrepreneurs put all their hopes on Pennsylvania.

Indoor Grows Could Prove Costly for Hawaii MMJ Businesses

Omar Sacirbey  | December 23, 2015

Medical marijuana dispensary investors and owners in Hawaii could be required to spend millions of dollars on construction and utilities because the state’s interim business rules require that cannabis cultivation be indoors, The Garden Island News reported.

Having to grow indoors may force dispensary owners to recoup the additional costs with a product price …

Colombia Legalizes Medical Cannabis Sales

John Schroyer  | December 22, 2015

Welcome to the club, Colombia.

On Tuesday, the South American nation’s president put his signature on a decree that formally legalizes the cultivation and sale of medical cannabis.

Although MMJ has technically been legal in the country since 1986, the new law will establish a regulatory structure for the cultivation and distribution of …