Former Verano Executive Charged with Securities Fraud for Alleged Insider Trading
Wed / Jan 22nd
A former executive vice president at Chicago-based cannabis company Verano was recently indicted in federal court for insider trading.
Laws involving marijuana are changing frequently as states expand legality and acceptance. As business owners and entrepreneurs, staying up to date on legal issues can make the difference between success and failure. Below are articles and updates on the changing legal environment in the cannabis industry.
Wed / Jan 22nd
A former executive vice president at Chicago-based cannabis company Verano was recently indicted in federal court for insider trading.
Wed / Jan 22nd
Minnesota officials fined four businesses $10,000 each last year in civil penalties related to illegal cannabis.
Wed / Jan 15th
A New York Supreme Court Judge has ruled that the New York City Sheriff’s Office and the Office of Cannabis Management (OCM) must stop conducting warrantless raids on unlicensed cannabis shops.
Wed / Jan 15th
Hightimes Holding Corp. chairman Adam Levin has agreed to plead guilty to securities fraud charges involving undisclosed payments to promote the company’s stock. According to the charges, Levin participated in a scheme to pay over $150,000 to an investment newsletter analyst who promoted the stock without disclosing the compensation.
Wed / Jan 8th
The U.S. 5th Circuit Court of Appeals has reaffirmed that the federal prosecution of Patrick Darnell Daniels Jr. for illegally possessing a firearm while having also consumed cannabis was a violation of his Second Amendment rights.
Wed / Jan 8th
Cannabis reform proponents have again requested the removal of the Drug Enforcement Administration (DEA) from the rescheduling hearing coming later this month, citing new evidence the agency might seek to “subvert the process” and “thwart” the rescheduling process.
Mon / Dec 23rd
The Alabama Court of Civil Appeals confirmed that Alabama regulators had “properly exercised” their power when rescinding medical cannabis licenses awarded under the state’s initial cannabis licensing round.
Mon / Dec 16th
The West Virginia Supreme Court upheld a judge’s ruling that the state can prohibit a state-registered cannabis patient from participating in the medical cannabis program if they are on probation.
Fri / Dec 13th
A Florida judge this week ruled in favor of a paramedic who sued his former employer for wrongful termination after being fired for testing positive for THC on a random drug test, despite being a registered cannabis patient with a state-issued medical ID.
Wed / Dec 11th
One of the plaintiffs in the recently dismissed lawsuit that aimed to invalidate the petitions behind Nebraska’s successful medical cannabis legalization effort has filed another suit seeking to block the reforms.
Wed / Dec 4th
A federal appeals court has upheld Mississippi’s ban on advertising medical cannabis products, concluding that the restriction does not violate the First Amendment.
Wed / Dec 4th
The Nebraska Attorney General’s Office appears to be setting up to appeal the recent dismissal of a lawsuit brought against two successful medical cannabis initiatives that state voters overwhelmingly approved last month.
Fri / Nov 29th
A Lancaster County, Nebraska District Court judge on Tuesday dismissed legal challenges against the state’s two medical cannabis petitions, the… Read More
Mon / Nov 25th
A Nebraska judge last week dropped all charges against a notary public caught up in an ongoing legal challenge against the medical cannabis ballot initiatives approved by voters earlier this month.
Mon / Nov 18th
An appellate judges panel in Missouri recently ruled that local governments cannot stack cannabis sales taxes, overturning a lower court’s decision from May.
Fri / Nov 15th
Colorado-based Bee’s Knees CBDs has agreed to pay the state attorney general a $225,000 settlement after an investigation found the company had misrepresented its product offerings, claimed false partnerships with nonprofits, and failed to verify customers’ ages.
Mon / Nov 11th
Seven cannabis transportation companies in Illinois are suing the state Department of Agriculture claiming the agency’s licensing process favors larger, white- and male-owned companies.
Fri / Nov 1st
A chief administrative law judge ruled Thursday to delay the DEA’s hearing for expert testimony on the rescheduling of cannabis under federal law until likely January or February 2025.
Fri / Nov 1st
The owner of a Texas smoke shop was awarded a settlement of $80,000 from the Garza County Sheriff’s Office and the city of Post following an “illegal” raid in February that seized more than $20,000 worth of legal hemp products.
Thu / Oct 31st
The trial over Nebraska’s two medical cannabis ballot initiatives began Tuesday after state officials challenged the proposals’ signature-gathering process. The initiatives, which together seek to legalize medical cannabis, will remain on state ballots but, depending on the trial, could be invalidated even if approved by voters.
Wed / Oct 30th
A Queens County Superior Court judge has ruled that the New York City law enabling local law enforcement to crack down on unlicensed cannabis sales is unconstitutional because it violates the shop owners’ right to due process.
Wed / Oct 23rd
A Montgomery Circuit judge in Alabama has appointed a mediator to help resolve the legal dispute over the state’s attempts to license integrated operators for its long-embattled medical cannabis program.
Wed / Oct 16th
The U.S. Supreme Court heard arguments over whether a truck driver who was fired for failing a drug test after using a CBD product advertised as containing no THC can sue the manufacturer under the federal Racketeer Influenced and Corrupt Organizations Act, or RICO.
Mon / Oct 14th
A California judge last week ruled that the state’s emergency regulations restricting the sale of intoxicating hemp products can continue, blocking a legal challenge brought by hemp companies.
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