Cannabis Licensing Saga Continues In Alabama, Troubled Marijuana Regulator Hit With New Lawsuit
Portfolio Pulse from Jelena Martinovic
The Alabama Medical Cannabis Commission (AMCC) is facing a new lawsuit from Enchanted Green LLC after the company was denied a processor permit in the third round of licensing. Enchanted Green alleges that the AMCC changed rules and criteria unconstitutionally and violated multiple laws. The lawsuit follows previous legal challenges from other cannabis operators, including Verano Holdings Corp. (OTC:VRNOF), after the first two licensing attempts in June and August led to a legal saga and a settlement in November.
December 06, 2023 | 4:26 pm
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Verano Holdings Corp. (OTC:VRNOF) was previously involved in legal actions against the AMCC but is not the primary subject of the current lawsuit. The ongoing legal issues in Alabama could indicate a challenging regulatory environment for cannabis companies like Verano.
While Verano Holdings Corp. was involved in earlier legal disputes with the AMCC, the current lawsuit does not directly involve the company. However, the continued legal challenges in Alabama's cannabis licensing process could reflect broader regulatory risks that may affect Verano's operations or expansion plans in the state. The impact on the stock is likely neutral in the short term as the current news does not directly pertain to Verano's immediate business activities.
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