MedMen

DOJ whistleblower: Attorney General Barr’s treatment of cannabis industry tantamount to ‘harassment’

A career U.S. Justice Department attorney testified Wednesday that antitrust investigations of 10 cannabis mergers since March 2019 were “not even close to meeting established criteria” for such reviews and agreed they amounted to industry “harassment” by Attorney General William Barr. John Elias told a U.S. House Judiciary Committee hearing that antitrust employees were told […]

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Prosecutor: AG Barr ordered politically motivated probes of marijuana mergers

A federal prosecutor will testify before members of the U.S. House of Representatives on Wednesday that U.S. Attorney General William Barr ordered “politically motivated” reviews of 10 marijuana business mergers. The expected testimony to the House Judiciary Committee will come from John Elias, the acting chief of staff for the assistant attorney general and part […]

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MedMen loses Virginia medical cannabis dispensary license

Virginia regulators voted to rescind the medical marijuana dispensary license held by embattled multistate cannabis company MedMen Enterprises in the town of Staunton, less than a month after the state’s governor signed a bill to legalize MMJ. The conditional license was originally granted to Chicago-based PharmaCann, with whom MedMen was set to merge in 2019. […]

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Marijuana MSO execs pinpoint state markets they’re least bullish on – and those they’re eyeing for the future

This is the second installment of a two-part series in which top executives from multistate operators discuss the state-legal marijuana markets they like the most and the least. The first installment can be viewed here. Executives’ comments have been edited for length and clarity. (Click on the orange arrows to advance the slideshow.)

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Why some marijuana MSOs are prospering during tough times

A number of multistate marijuana operators are struggling, unloading assets, cutting jobs and overhead costs as well as scrapping expansion plans amid a looming recession and a shortage of investor funding. But other MSOs are doing well financially: Cresco Labs, Curaleaf, Green Thumb Industries and Trulieve, among others. What makes a successful MSO these days […]

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Nevada reviewing alleged campaign illegalities by marijuana MSO MedMen

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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Coronavirus 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, […]

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High-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. […]

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Investing 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 […]

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