By some estimates, sales of legal cannabis in the United States are expected to top $30 billion by 2025. If cannabis is de-scheduled, this nascent industry is well-positioned to burgeon into the next great American capitalism story. The obvious question
*This post originally appeared as an article in the August 2020 edition of Happi Magazine.
Beauty companies, including those using CBD or hemp-derived components, face an uptick in alleged false-labeling class actions. Whether the actions are justified or vexatious, one
On June 29, 2020, Colorado adopted a statewide social equity program (SEP) for permitting cannabis operators.[1] More specifically, House Bill 20-1424 (HB 20-1424) “defines social equity licensees, and modifies and expands the marijuana accelerator program to make it
On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) published updated guidance intended to “enhance the availability of financial services” for the hemp industry (the Guidance). Even though the Agriculture Improvement Act of 2018 legalized hemp[1] at the
It would be an understatement to say that the COVID-19 pandemic impacted transactional activity for buyers and sellers across a range of industries, the hemp and cannabis merger and acquisition (“M&A”) space being no exception. In particular, the current period
As the novel coronavirus (COVID or COVID-19) continues to ravage the United States, the cannabis industry is feeling the pandemic’s negative impacts despite an initial spike in sales after cannabis operations were deemed essential under various state “stay-at-home” orders.[1]
The cannabis industry faced heightened antitrust scrutiny from the Department of Justice (DOJ) in 2019. There were public reports regarding several “Second Requests” seeking information about potential cannabis transactions. Second Requests are a part of expensive and time-consuming antitrust investigations
As with many states, Texas and the cannabis plant have a long, complex history – from the first citywide cannabis ban adopted in El Paso in 1915, to the enactment of state laws in 1931 that made possession of any
This article originally appeared in Cannabis Business Executive on June 10, 2020.
Claimed “illegality” of cannabusinesses continues to be a critical issue for them in their ability to enforce their rights in the courts. The ability to seek judicial relief
Many Illinois cannabis contracts, including intellectual property licensing agreements, development agreements and supply agreements, contain force majeure clauses. Depending upon the language of these clauses, the COVID-19 pandemic may be an event that triggers these clauses and provides a defense
