MedMen co-founders Adam Bierman and Andrew Modlin departed the beleaguered company’s board of directors. 

The company also announced the settlement of lawsuits alleging they ran the company “like a ‘Wolf of Wall Street‘-inspired personal slush fund.” (MedMen didn’t acknowledged wrongdoing.)

In a harsh piece for Forbes, longtime cannabis journo Chris Roberts writes:

“All that’s left is the fight over the scraps, MedMen’s desiccated and then charred hulk—and identifying both the villain and the moral of this cautionary tale.

“The analysis is not something most cannabis companies and cannabis investors will want to hear. The hubris that both floated and sank MedMen runs absolutely rampant in legal weed.

“MedMen was the first, the loudest, the brashest and the most ridiculous, but it won’t be the last. There are too many other companies built in its mold.”

Plus, Virginia denied MedMen’s request to open a MED shop.


Separately, MSO Acreage Holdings is dealing with some tricky situations of its own: