New York company wins critical decision in fight for medical marijuana license
A New York-based company’s claim that it should have won one of the state’s five initial medical marijuana licenses has taken a big step forward.
A New York-based company’s claim that it should have won one of the state’s five initial medical marijuana licenses has taken a big step forward.
MedMen Enterprises alleges in a lawsuit that New York Gov. Kathy Hochul’s administration tried to force the marijuana multistate operator out of the state’s market.
While New York’s medical cannabis patient registry increased by more than 23,000 in 2019, growth has slowed significantly because of various market factors leading to a low consumer participation rate.
Maryland’s slow-to-start medical marijuana industry made up for lost time, zooming toward $100 million in first-year sales.
A company that says it was part of a team vying for a medical marijuana business license in New York has sued multistate cannabis operator Acreage Holdings and others for $400 million, alleging they reneged on an ownership stake in a lucrative MMJ venture in the Empire State.
Landmark news comes from Canada this week as it becomes the first G-20 nation to legalize recreational cannabis. Read more about that here.
In the United States, cannabis banking reform advocates get mixed signals, New York plans to allow the use of medical marijuana in lieu of opioids, and U.S. Tax Court denies a Colorado MMJ company’s business deductions.