- In a statement, Ascend said it is “seeking an order compelling specific performance of the transactions” announced in February.
- Ascend also said it has applied for a preliminary injunction and temporary restraining order to maintain the status quo between the companies.
- Ascend says it has provided MedMen with more than $6M in cash. The deal, it says, rescued MedMen from a “dire” financial position.
According to Ascend’s complaint, MedMen is taking the position that New York regulators “had only given conditional, not final approval” for the deal.
- Ascend claims the regulators have given final approval publicly and in writing. It calls MedMen’s position “astounding.”
- A spokesperson for MedMen did not respond to a request for comment.