The former chief financial officer of MedMen Enterprises filed suit against the California-based company this week, alleging top executives forced him to “choose between complying with his fiduciary duty to the company and its shareholders or turning a blind eye and a deaf ear to improper and unlawful behavior.” James Parker, who resigned as CFO in November, […]
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Chart: Multistate cannabis operators rapidly expanding into new markets
The fragmented, state-by-state nature of the marijuana industry historically has been dominated by small, local players, but larger, publicly traded companies with multistate operations are becoming an increasingly prevalent force. Rapid consolidation and expansion among cannabis companies dominated 2018 with more than 300 mergers and acquisitions and a rash of reverse takeovers that allowed U.S. […]
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Marijuana firm MedMen, top execs face $20 million suit for allegedly breaching duties, enriching selves
Cannabis industry retail giant MedMen Enterprises and its top executives face a $19.8 million lawsuit by an early investor group who charge that senior execs enriched themselves at the expense of shareholders and breached their fiduciary duties.
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Marijuana investment trust raises $133M, will buy MedMen properties
MedMen Enterprises’ strategy to spin off additional real-estate holdings and invest the proceeds in its nationwide expansion has taken another big step. The Los Angeles-based cannabis company announced that Treehouse Real Estate Investment Trust, a collaboration between MedMen and the California-based investment firm Stable Road Capital, completed a $133 million raise and will use part of […]
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Marijuana retailer MedMen facing potential class action lawsuit from former employees
One of the biggest names in cannabis retail, California-based MedMen, is facing a potential class action lawsuit from former employees that allege multiple labor law violations.
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Marijuana firm MedMen scales back financing, appoints interim CFO
MedMen Enterprises is slashing its latest funding round as the firm’s stock tumbles and the California cannabis company hunts for a new chief financial officer. The multistate cannabis firm revealed Friday that CFO James Parker resigned. The company appointed Jim Miller, vice president of accounting, as interim CFO while the firm searches for a replacement […]
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Week in Review: Marijuana RICO case victory, MedMen eyes ‘cannabis’ trademark & CA issues first full annual permits
A Colorado marijuana grower wins a milestone racketeering case, MedMen seeks a trademark for the word “cannabis,” and California issues its first full annual MJ business licenses. Here’s a closer look at some notable developments in the marijuana industry this week. Big legal victory Legal experts said marijuana growers can rest a little easier after a […]
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MedMen pens $33 million deal to expand its reach in Arizona cannabis market
Los Angeles-based MedMen inked a $33 million deal to acquire an Arizona-based vertically integrated marijuana firm. The cash and stock deal will give MedMen a controlling interest in cannabis cultivator, producer and retailer Kannaboost Technology and CSI Solutions – referred to collectively as Level Up. Here are the basics behind the deal: MedMen expands its […]
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MedMen seeks to trademark the word ‘cannabis’ for T-shirts
California-based MedMen Enterprises has filed an application to trademark the word “cannabis” for use on T-shirts, but a trademark specialist is skeptical the application will fly with the federal government. The application, filed in early October with the U.S. Patent and Trademark Office (USPTO), follows the multistate cannabis company’s successful effort to trademark a marijuana […]
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MedMen sells marijuana properties in California, Las Vegas for $12.5 million
MedMen Enterprises said it agreed to sell three cannabis properties in California and Nevada for roughly $12.5 million, a move aimed at boosting the multistate marijuana company’s liquidity and supporting its expansion.
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Southern California recreational cannabis firms struggle with product shortages, licensing and black market
“Growing pains” is an understatement to describe Southern California’s tumultuous recreational marijuana marketplace. New regulations that took effect July 1 are rattling what was already a turbulent part of the California MJ industry. The industry there also is suffering from product shortages, slow license approvals and a thriving black market. Moreover, Southern California adult-use cannabis businesses […]
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MedMen corrects statement about acquiring marijuana store from Berkeley Patients Group
California-based marijuana giant MedMen released an inaccurate statement this week saying it had signed a definitive agreement to acquire a licensed dispensary from Berkeley Patients Group, one of the nation’s oldest cannabis retailers.
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