Curaleaf settles 10 lawsuits related to THC-labeling snafu
Massachusetts-based Curaleaf Holdings settled 10 lawsuits brought after an Oregon subsidiary mistakenly sold THC-infused tinctures that were labeled as containing only nonintoxicating CBD.
Massachusetts-based Curaleaf Holdings settled 10 lawsuits brought after an Oregon subsidiary mistakenly sold THC-infused tinctures that were labeled as containing only nonintoxicating CBD.
Marijuana merger and acquisition activity proceeded at a torrid pace in 2021 – and could accelerate in 2022 – thanks to lower interest costs and pressure on larger companies to expand their footprints and boost revenue.
Cannabis giant Curaleaf Holdings said it entered a definitive agreement to acquire an Arizona retailer for $13 million, its 10th in the booming adult-use market.
Most of the top publicly held marijuana multistate operators posted single-digit revenue gains in the quarter ended Sept. 30, slowing from the sizzling double-digit growth in the previous quarter.
Marijuana multistate operator Curaleaf continues to be hit with federal lawsuits in Oregon from customers claiming they required medical attention after taking CBD drops that actually contained THC.
Connecticut’s projected $750 million recreational marijuana market is unlikely to match the size of neighboring New York’s, but it’s poised to launch first and might turn out to have as strong – if not stronger – of a social equity program, industry experts agreed..
Columbia Care (CSE: CCHW; OTCQX: CCHWF) completed its acquisition of Denver-based Medicine Man on Nov. 1, highlighting the accelerating consolidation of the Colorado cannabis market.
Workers at a Curaleaf Holdings cannabis dispensary in Worth, Illinois, are joining the United Food and Commercial Workers after a yes vote in a union election, Local 881 of the UFCW said.
As the CEO of Curaleaf Holdings, Joe Bayern skippers the nation’s largest marijuana multistate operator.
And he doesn’t shy away from touting the benefits of “big cannabis.”
Marijuana multistate operator Curaleaf now has been hit with four federal lawsuits in connection with a product-labeling snafu in Oregon that resulted in some customers ingesting high-THC instead of CBD wellness drops.
A labeling snafu by an Oregon subsidiary of Massachusetts-based Curaleaf initially led to a recall of cannabis tinctures and now has spawned a lawsuit by a consumer who unintentionally got high from THC from one of the tinctures, which was supposed to contain only CBD.
All 10 of the largest publicly held marijuana multistate operators posted double-digit revenue growth in the quarter ended June 30, but stock prices remained weak as investors grow impatient with the slow pace of federal marijuana legalization efforts.