The Nevada secretary of state’s office is reviewing allegations made by a former MedMen Enterprises executive that the cannabis company’s co-founders made illegal campaign donations to Democratic Gov. Steve Sioslak. The allegations by former MedMen Chief Financial Officer James Parker were contained in a January 2019 lawsuit filed in California and were made public by […]
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Trulieve’s dominance in Florida increases again as many firms come to a standstill
Florida medical marijuana juggernaut Trulieve has defied expert predictions, increasing its market share back above 50% a year after the state lifted its ban on smokable products and more competition flooded the market.
Read MoreCoronavirus sparks marijuana retail workers to try unionizing in Illinois, Massachusetts
The COVID-19 crisis has accelerated unionization efforts at a handful of cannabis stores and dispensaries in Illinois and Massachusetts that, if successful, could result in thousands of dollars in added staffing costs for the multistate operators that own the establishments. Safety concerns are among the issues spurring the unionization efforts, as well as pay, benefits, […]
Read MoreHigh-profile founders leaving US marijuana companies signals new phase for industry
A number of high-profile founders of U.S.-based cannabis companies have stepped down in the past several weeks amid continuing struggles to move their firms toward profitability. Industry experts suggest this is a sign of maturation among marijuana businesses as investors demand they focus more on profits than raising capital and relying on previously booming stock prices. […]
Read MoreInvesting in distressed marijuana businesses: Q&A with Trava Capital’s James Parker, former MedMen CFO
James Parker is no stranger to the marijuana industry or distressed-asset investing, and he’s aiming to combine both with a private equity firm he founded in December – California-based Trava Capital. A former chief financial officer at MedMen, Parker made headlines in 2019 by suing the company for breach of contract. Parker began Trava Capital […]
Read MoreMultistate cannabis operator MedMen’s Bierman steps down as CEO, gives up voting control
Adam Bierman, the flamboyant co-founder of once-high-flying cannabis retailer MedMen Enterprises, resigned as chief executive and surrendered his voting control.
Read MoreStock slump, layoffs and turning a cannabis company around: Q&A with MedMen CEO Adam Bierman
The new year always offers a chance for a fresh start, which is exactly what MedMen CEO Adam Bierman believes he needs.
Read MoreMultistate cannabis operator MedMen reveals another round of layoffs
Vertically integrated marijuana company MedMen, one of the most high-profile cannabis retailers in the U.S., announced more layoffs on Wednesday. “This week, the company provided layoff notices to an additional 20% of its corporate-level employees,” MedMen said in a news release. “In total, over the past 30 days, the company has strategically reduced its corporate […]
Read MoreMajor cannabis firm MedMen slashes more than 190 jobs, unloads assets to bolster bottom line
MedMen, a Los Angeles-based multistate marijuana operator, announced it is laying off more than 190 employees to shore up its bottom line, joining a growing list of cannabis companies shedding workers amid falling MJ stock prices and a dearth of outside funding. The cash-strapped, vertically integrated company also disclosed plans to scale back its store […]
Read MoreMore medical cannabis companies bolster operations in lucrative Florida market following smokable flower ban repeal
A new Florida law repealing a ban on smokable medical marijuana products has given the state’s MMJ market a shot in the arm, prompting large multistate companies to aggressively expand their production, operations and retail footprints. That has injected fresh competition into one of the nation’s fastest-growing medical cannabis markets and loosened the grip of the state’s […]
Read MoreAntitrust cloud lifting on cannabis M&A deals, but will some be renegotiated – or even abandoned?
The antitrust cloud hanging over several large mergers and acquisitions in the U.S. marijuana industry appears to be lifting, but its effects continue to linger and could remain a factor if the deals ultimately are renegotiated or even scrapped in a difficult funding environment. In recent weeks, a number of marijuana companies have announced that […]
Read MoreMedMen and PharmaCann terminate $682 million cannabis merger; MedMen CFO ousted
MedMen, a Los Angeles-based multistate marijuana operator, announced that its blockbuster acquisition of PharmaCann has been scuttled and that the company will focus on beefing up its retail operations in California and other states.
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