Federal class action securities lawsuits against publicly traded marijuana businesses doubled from 2018 to 2019, a trend that’s typical in an emerging industry, according to a new report. The report, by Boston-based global law firm Goodwin Procter, detailed 13 cases filed in U.S. federal courts in 2019 compared with six in 2018. The cases included […]
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Marijuana tech firm Omura raises $5 million, adds Linton as adviser
California-based Omura, a marijuana and hemp flower vaporizer company, raised $5 million, with a portion of the funding coming from Bruce Linton, former CEO and founder of Canada’s Canopy Growth Corp. The raise, while not major by cannabis industry standards, is significant during the global coronavirus pandemic when investments are more difficult to secure. Linton, […]
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Week in Review: Federal cannabis aid, California social equity, Brazil medical marijuana & more
Marijuana lobbyists and a group of lawmakers are continuing their fight to include cannabis-related businesses in coronavirus relief packages. MJBizDaily takeaway: The marijuana industry is a significant contributor to state economies across the country. But because the plant is illegal federally, it remains an uphill fight to allow the businesses to be eligible for federal coronavirus […]
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Marijuana Business Daily launches virtual event series for MJ execs
Marijuana Business Daily is debuting a virtual event series, MJBizDaily Direct, designed to offer industry executives and investors cannabis-focused content in a digital format during the coronavirus pandemic and beyond. The first events in this series will be MJBizConNEXT Direct and Hemp Industry Daily Conference Direct. The virtual conferences will run June 29-July 1, 2020, on […]
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Week in Review: Canopy Growth closes cannabis grows, COVID-19 reshaping MJ business models, MA rec shops take a hit & more
Canopy Growth’s new CEO said the once high-flying marijuana giant is shuttering additional cannabis cultivation facilities in Africa, Canada, Colombia and the United States. MJBizDaily takeaway: The Canadian company’s retrenchment offers lessons for other cannabis operators with overseas aspirations: There are few federally regulated markets outside Canada that are fully functional today. Most markets, including […]
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List of cannabis events hit by coronavirus
From South by Southwest in Austin, Texas, to Spannabis in Spain, at least 15 conferences with ties to the cannabis industry have been postponed, canceled or rescheduled amid the coronavirus pandemic. Here is a list – which will be updated – and links to some of the events impacted so far by the coronavirus: American […]
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Week in Review: Medical marijuana deemed ‘essential,’ MJ shops see brisk sales amid coronavirus crisis but deal with related business challenges & more
States and local municipalities are increasingly declaring that medical marijuana businesses are “essential” operations and can keep their doors open during the coronavirus health crisis. MJBizDaily takeaway: Industry watchers note that as government officials in more areas of the country place MMJ dispensaries in the same category as other essential businesses such as pharmacies, this marks […]
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The pandemic pivot and how cannabis companies reacted to COVID-19.