A 2½-year-old class action lawsuit brought by former employees of multistate marijuana operator MedMen has almost concluded, with the lead plaintiffs asking a California judge to approve a proposed $975,000 settlement. A hearing is scheduled for March …
Author: Matt Lamers
California cannabis workers eligible for immediate COVID-19 vaccinations
The California Department of Public Health on Thursday issued an updated COVID-19 vaccination policy clarifying that cannabis industry employees are classified as health-care workers and therefore are immediately eligible to receive the vaccine. Accord…
Market for licensed marijuana businesses heats up as buyers snap up retail stores, other properties
The market for buying and selling licensed cannabis businesses has perhaps never been hotter, with demand fueled by new entrants into the industry, hopes for federal marijuana reform and multistate operators keen to expand their footprint. On the flip …
Power REIT acquires Canndescent cannabis greenhouse for $7.7 million
New York-based Power REIT on Thursday announced the acquisition of a 37,000-square-foot Southern California greenhouse used for cultivation of commercial cannabis in a cash and stock deal worth $7.7 million. The Riverside County property, which is alre…
L.A. social equity marijuana retailers allowed to apply for state licenses
Roughly two dozen of 200 upcoming social equity marijuana retailers in Los Angeles got the greenlight from city regulators to apply for the required state permits, marking slow but steady progress in the municipality’s march toward industry expan…
California cannabis agency creates uproar by revoking 300-plus business permits, then reinstates most
California’s top cannabis regulatory agency sent shockwaves through the state’s marijuana industry on Monday and Tuesday after it inexplicably revoked the licenses of more than 300 businesses. By Tuesday afternoon, the license suspensions appeared to h…
Tobacco giant sues California cannabis firm, alleging trademark violation
The owners of the Kool menthol cigarette brand filed a lawsuit that claims a California cannabis business has infringed upon its trademarked logo. According to Bloomberg Law, Kool owner ITG has sued Los Angeles-based Capna Intellectual, which does busi…
Real estate brokers not liable over illegal L.A. marijuana shop, judge rules
A Los Angeles commercial real estate firm and two of its licensed brokers won’t be held accountable for an unlicensed marijuana retailer that operated at a location where the firm helped set up a lease, a district court judge ruled. The judgeR…
Violating California’s Prop 65 labeling rules can cost cannabis companies thousands in legal fees
California has a reputation for heavily regulating businesses, and the marijuana industry is no exception. As of Jan. 1, a mandate requires all marijuana products to be labeled with warnings about the health dangers of both marijuana smoke and THC. The…
IRS puts 280E tax guidance for cannabis companies on back burner
Hoped-for guidance for cannabis companies affected by Section 280E of the federal tax code won’t be published anytime soon, an IRS attorney said recently. According to Bloomberg Tax, the federal agency is more focused on coronavirus-relief issues…