Alabama Courtroom Drama Unfolds As Cannabis Licenses Continue To Hang In Balance
Portfolio Pulse from Jelena Martinovic
Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) is in a legal dispute with the Alabama Medical Cannabis Commission (AMCC) over the revocation of its Integrated Facility License. Verano first secured the license in June but lost it in August when the AMCC chose Insa Alabama LLC instead. Verano filed a lawsuit alleging that the AMCC has no right to revoke licenses and that its exercise of power conflicts with the authority provided by the Alabama Legislature.
October 12, 2023 | 1:53 pm
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Verano Holdings Corp. is in a legal dispute with the AMCC over the revocation of its cannabis license. The outcome of the lawsuit could impact Verano's operations and growth in Alabama.
The revocation of Verano's cannabis license by the AMCC could potentially hinder the company's operations and growth in Alabama. The ongoing legal dispute could also lead to reputational damage and financial losses due to legal costs.
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