WeedWeek business columnist Dan Mitchell takes a look at U.S. Attorney General William Barr’s antitrust investigations into the cannabis industry, and whether Big Pot is a threat:
John Elias, a prosecutor in the [Justice Department’s] antitrust division, said Barr, motivated purely by his “personal dislike for the industry,” directed the division to investigate so many cannabis companies that the industry eventually represented nearly 30% of the cases it was pursuing. This despite the fact that the companies held “low market shares in a fragmented industry” and “do not meet established criteria for antitrust investigations.”
Of 10 examples, the only one Elias mentioned was the proposed MedMen/PharmaCann merger, which fell apart last fall due to “regulatory delays” and other issues.
Three dozen Congresspeople called for an inquiry into Barr’s cannabis anti-trust work and possible impeachment. They said it was an “abuse of power.”
Marijuana Moment
Separately, MedMen could be ejected from Pasadena, Calif.’s licensing process, on account of turnover at the company. City officials wouldn’t say how it would change the selection.
Pasadena Now
- Here’s the latest on MedMen’s financial re-structuring.
Press release
Quick Hit
- Federal border patrol agents have seized legal cannabis shipments in southern California. ????WW California has more.
Voice of San Diego
