May 13 2022,

TOGETHER WITH

THE BIG IDEA

Hi all,

Happy Friday! Let’s get to it:

  • A meh earnings season for pot stocks
  • “Storied” SoCal operator Jungle Boys allegedly doesn’t allow pregnant employees

Read up,

Alex

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WHAT YOU MISSED IN WEEDWEEK CALIFORNIA PRO

Calif. distru wars get nasty

California’s two leading distributors Herbl and Nabis and a leading concentrate maker, Raw Garden, are locked in a nasty legal battle over Raw Garden’s switch from Herbl to Nabis early this year.

The case’s details, reported here for the first time, offers a look at the rivalry between two key companies, and their relationships with one of the state’s top brands.

Read the WeedWeek exclusive

PLUS: Calif. cannabiz waits for Gov. Newsom’s tax plan; Why Weedmaps bought Enlighten and lots more.

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ERRATIC EARNINGS SEASON FOR POT STOCKS

It’s been an erratic earnings season for long suffering pot stock holders:

Disclosure: WeedWeek editor Alex Halperin holds a long position in a diversified pot ETF. 

"STORIED" JUNGLE BOYS ALLEGEDLY DOESN'T ALLOW PREGNANT EMPLOYEES

Two former-employees have sued companies affiliated with SoCal operator Jungle Boys, alleging wrongful termination, unlawful retaliation, failure to pay all wages due and “false imprisonment” among other claims. The 45-page complaint also alleges that the defendants did not allow pregnant women employees.
WeedWeek

High Times recently called Jungle Boys, which was established in 2006, a “storied” company and “one of the premier examples of urban farmers bootstrapping their way to success.”

In a statement, Arthur Hodge, a lawyer for the defendants, wrote that an initial investigation found the allegations to be inaccurate and that the defendants would contest the matter in court. 

Read the story at WeedWeek

QUICK HITS

Federal:

Business:

States:

Criminal justice:

  • In Maryland, 27-year old Jonathan Wall was convicted of federal drug charges for bringing California weed to Maryland. He faces 10 years to life. 
    N.Y. Times
  • In Maine, a federal judge denied a man’s request to use MED while awaiting trial for running an illegal marijuana operation.
    Central Maine

Fun and interesting:

COMPANY MILESTONES

JOB MOVES

  • Leading MSO Curaleaf named Matt Darin CEO. A founder and COO of Grassroots Cannabis, which Curaleaf acquired in 2020. At the time, Grassroots was a 12-state MSO, Darin previously worked for a decade in commercial real estate. 
  • The Massachusetts Cannabis Control Commission named Sarah G. Kim interim chair. She previously served as the state’s deputy treasurer and general counsel  overseeing the liquor regulator.
  • BDSA exec Jessica Lukas said she was stepping down.

PRODUCT NEWS

Courtesy: Wyld
  • Edibles maker Wyld added apple and cherry sours to its product line. Both are available across Oregon, California, Colorado, Nevada, Arizona, Michigan and Washington. (Pictured)
  • Sonoma County (Calif.)-based Vintage Wine Estates acquired House of Saka and the IP from Gem + Jane has has hired CannaCraft exec Tracey Mason to take the venture national.
    North Bay Business Journal

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