Cannabis Companies Take On US Attorney General In Battle Against Federal Prohibition
Portfolio Pulse from Maureen Meehan
A coalition of U.S. cannabis operators and investors, including Verano Holdings (VRNOF), Ascend Wellness (AAWH), TerrAscend (TSNDF), and Green Thumb Industries (GTBIF), have filed a lawsuit against U.S. Attorney General Merrick Garland to block the federal government from enforcing cannabis prohibition for state-legal activity. The lawsuit argues that the Controlled Substances Act, which bars the production, distribution, and possession of marijuana, exceeds the federal government's power to regulate commerce. The plaintiffs claim that federal prohibition harms their businesses and hinders states' efforts to provide regulated and tested cannabis.
October 26, 2023 | 8:59 pm
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Ascending
NEUTRAL IMPACT
Ascend Wellness is part of the lawsuit against the U.S. Attorney General, which could potentially impact its business operations.
The outcome of the lawsuit could potentially impact Ascend Wellness' business operations and its stock price. However, it's uncertain at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEUTRAL IMPACT
Green Thumb Industries is part of the lawsuit against the U.S. Attorney General, which could potentially impact its business operations.
The outcome of the lawsuit could potentially impact Green Thumb Industries' business operations and its stock price. However, it's uncertain at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEUTRAL IMPACT
TerrAscend is part of the lawsuit against the U.S. Attorney General, which could potentially impact its business operations.
The outcome of the lawsuit could potentially impact TerrAscend's business operations and its stock price. However, it's uncertain at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEUTRAL IMPACT
Verano Holdings is part of the lawsuit against the U.S. Attorney General, which could potentially impact its business operations.
The outcome of the lawsuit could potentially impact Verano Holdings' business operations and its stock price. However, it's uncertain at this point.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75