Maryland regulators moved to revoke a license awarded to an affiliate of Minnesota MED producer Vireo because two former Vireo employees face charges for allegedly driving 12 pounds of cannabis oil, worth about $500,000, in an armored vehicle from Minnesota to New York to meet a production deadline. Prosecutors said there were also fraudulent records in Minnesota indicating the oil had been destroyed.
A Vireo affiliate has been awarded a license in Pennsylvania. The company said it would appeal in Maryland.
A rural Oregon couple filed a racketeering (RICO) lawsuit against 43 cannabis-involved defendants. Canna Law Blog explains why RICO suits, originally intended to fight organized crime, pose an existential threat to the industry. “By its very design, RICO is intended to be ruinous to organizations caught in its crosshairs.”
A federal appeals court decision gives new hope to Fourth Corner Credit Union, a Denver group seeking to provide banking to cannabis companies. The 10th circuit court’s decision would allow Fourth Corner to reapply for the “master account” it needs to operate, from the Federal Reserve Bank of Kansas City.
Patient data was stolen in cyberattack on delivery app Eaze. TechCrunch reports that the perpetrator is ransoming the data for $70M.
Congress may be warming to a cannabis banking law.
The newly announced National Association of Cannabis Businesses wants the industry to self-regulate on issues like advertising, packaging, labeling and accounting practices.
With REC legalization 12 months away, Canada is facing a weed shortage. In the side video, Canadian prime minister Justin Trudeau says they country hasn’t focussed on making money from legalization.
Buzzfeed examines prospects for pot cafes in Denver and nationwide and advises: “Adjust your expectations.” Denver released final rules for social use and plans to start accepting applications this summer.
A survey conducted by Eaze (the app), found that more women, and moms, are using cannabis. See the study on modern cannabis consumers here.
I wrote about cannabis big-data firm Headset for L.A. Weekly.
Financial analyst Alan Brochstein looks at the best online brokers for trading cannabis stocks.
About 200,000 Americans work full or part time in cannabis, more than dental hygienists, slightly less than telemarketers.
The Wall Street Journals finds that working in “edgy” industries like cannabis and sex toys can hurt executives who later want jobs at mainstream companies. Cannabis experience “is not something that would be in our (management) assortment anytime soon,” Target CEO Brian Cornell said.
In another setback for MED in Hawaii, an insurer said it would stop providing legally required worker’s comp. insurance to seven of the state’s eight dispensaries. The insurer said the decision reflected potential exposure to criminal liability, not a value judgement about MED.
OSHA’s California division decided existing workplace protections adequately cover cannabis.
A few pharmaceutical companies are developing cannabis-based painkillers that they hope could replace opioids.
Canadian MED producer Tilray is packaging product to look like generic pharmaceuticals.
The Montana Department of Agriculture refuted a federal decision to deny water to a Montana hemp farmer. The department said the farmer is in full compliance with state and federal law.
Hemp crops are doing well in North Dakota, despite a drought.
Weedon, a town in Quebec, wants to join the green rush.