February 25 2022,

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THE BIG IDEA

Hi all,

So much stuff in today’s newsletter, let’s just get to it:

  • MSOs opposed Illinois equity bill
  • MedMen retracts political influence allegation

Enjoy,

Alex

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MedMen retracts political influence allegation in Ascend suit

The AP reported MSO MedMen would withdraw its allegation, filed in court, that MSO Ascend used political pressure on N.Y. Gov. Kathy Hochul (D) so regulators would sign off on Ascend’s announced purchase of most of MedMen’s New York business.
WeedWeek  

  • A MedMen attorney said “very specific allegations that are the subject of the very carefully worded and very limited denials by Ascend and the governor’s office.”
  • Ascend produced evidence that its executives were out of town during two alleged meetings. 
  • “What’s particularly outrageous about this is they are basically making up a story because they have seller’s remorse,” an attorney representing Denerstein said.
  • The stakes are one of the 10 MED licenses in New York.

Read the whole AP story

In other New York news, Gov. Hochul signed a law that will allow hemp farmers to grow REC ahead of the state market’s official open.
Rochester First

Across the river:

QUICK HITS

Federal:

Business:

States:

  • Clark County (Las Vegas), Nev. announced a new equity training program.
    Fox5
  • The New Mexico Supreme Court determined MED should be exempt from a state sales tax.
    NM Political Report
  • Canna Law Blog discusses California’s long awaited new tax legislation.
  • Oklahoma police raided 12 MED locations, part of an ongoing investigation into licensed businesses selling into the illegal market.
    Public Radio Tulsa
  • The South Dakota Senate narrowly approved a REC bill that now heads to the state house. It follows the state supreme court’s overturning a REC ballot initiative which voters passed. It precedes another REC ballot push which would likely be more liberal than the Senate bill.
    Argus Leader
  • Texas gubernatorial candidates shared their views on legalization.
    Fort Worth Star-Telegram
  • The Washington Post looked at equity in Virginia.

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