Military Veterans Sue NY Cannabis Regulators For Breaking The Law By Exclusively Prioritizing Former Pot Convicts
Portfolio Pulse from Nina Zdinjak
Four military veterans have filed a lawsuit against the Office Of Cannabis Management (OMC) in New York, accusing it of violating the Marijuana Regulation and Taxation Act (MRTA) by prioritizing licenses for individuals with prior drug convictions. The plaintiffs argue that all 'social equity' applicants should have been prioritized, not just those with prior cannabis convictions. The lawsuit requests a temporary restraining order and preliminary injunction to stop the state from awarding and processing any further retail licenses. The OMC has so far issued 463 retail licenses to individuals with prior marijuana-related convictions and non-profits.
August 04, 2023 | 3:36 pm
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Acreage Holdings is part of a group that previously sued the OMC for allegedly violating MRTA by reserving the first 150 retail licenses for social equity applicants.
The news does not directly impact Acreage Holdings, but it indicates a challenging regulatory environment in New York's cannabis market, which could affect the company's operations and expansion plans in the state.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Curaleaf Holdings is part of a group that previously sued the OMC for allegedly violating MRTA by reserving the first 150 retail licenses for social equity applicants.
The news does not directly impact Curaleaf Holdings, but it indicates a challenging regulatory environment in New York's cannabis market, which could affect the company's operations and expansion plans in the state.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Green Thumb Industries is part of a group that previously sued the OMC for allegedly violating MRTA by reserving the first 150 retail licenses for social equity applicants.
The news does not directly impact Green Thumb Industries, but it indicates a challenging regulatory environment in New York's cannabis market, which could affect the company's operations and expansion plans in the state.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50