A new lawsuit sheds light on New York’s licensing of 10 medical cannabis operators in 2015 and 2016, raising questions about how regulators scored the applications and whether other unsuccessful applicants could raise their own legal objections.
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New Jersey fills remaining slots on marijuana oversight commission
New Jersey Gov. Phil Murphy moved quickly to complete the five-member Cannabis Regulatory Commission, only two days after signing adult-use marijuana implementation legislation into law. State regulators now have 180 days from the bill's...
Acreage selling Florida marijuana arm to Red White & Bloom for $60 million
Multistate marijuana operator Acreage Holdings said it has a definitive agreement to sell its medical cannabis operation in Florida to Red White & Bloom Brands for $60 million in cash and stock.
Marijuana packaging firm KushCo raises $40 million in direct stock offering
California-based marijuana company KushCo Holdings said it expects to net about $40 million from the sale of securities in a direct offering to investors. The provider of packaging and other ancillary products to the cannabis industry said it will use the proceeds to...
Virginia OKs smokable flower in move that could spur medical marijuana sales
Virginia lawmakers overwhelmingly passed legislation that would allow smokable marijuana flower sales later this year, a reform that will dramatically boost sales in the state’s nascent medical cannabis market. Flower sales often account for roughly 50% of market...
Ex-Eaze CEO pleads guilty in $100 million cannabis payment scheme
The former CEO of California cannabis delivery platform Eaze pleaded guilty to one count of conspiracy to commit bank fraud in connection with an alleged scheme to deceive banks into processing more than $100 million worth of credit and debit payments for marijuana...
New Jersey recreational marijuana implementation law signed, setting stage for $1 billion market
New Jersey Gov. Phil Murphy on Monday finally signed a law to implement a projected $1 billion recreational marijuana market, hours after lawmakers agreed on a “clean-up measure” that had held up the process for months.
Court ruling paves way for New Jersey to expand medical cannabis market
A New Jersey appellate court lifted a 2019 order preventing the state from issuing an additional 24 medical cannabis licenses.
California medical cannabis dispensary owes $4.2 million, US Tax Court rules
A subsidiary of California-based cannabis retailer Harborside must pay nearly $4.2 million in back taxes and penalties after losing a case in U.S. Tax Court. The Tax Court determined in a decision issued Wednesday that San Jose Wellness, the Harborside subsidiary,...
Marijuana foes deploy new ‘playbook’ to thwart state legalization, upend election results
Efforts to thwart voter-approved marijuana legalization in Mississippi, Montana and South Dakota are evidence of a “playbook” that reflects new legal strategies and greater willingness among local government officials to nullify election results, experts say. Those...
Report: Ex-Eaze CEO to be charged in cannabis payment-processing scheme
Federal prosecutors reportedly plan to charge a former CEO of California cannabis delivery platform Eaze in connection with a case accusing two businessmen of deceiving banks into processing $100 million worth of credit and debit payments for marijuana products....
Biden’s DOJ lawyers take IRS side in marijuana firm’s 280E fight
The Biden administration has weighed in on a U.S. Supreme Court marijuana petition, arguing that state-legal cannabis businesses can be investigated by the Internal Revenue Service for potential violations of Section 280E of the tax code. It is believed to be one of...
