DOJ To Federal Court: Don't Disrupt DEA's Rescheduling Process, Drop Cannabis Industry Lawsuit — Legal Tug-Of-War Continues
Portfolio Pulse from Maureen Meehan
The DOJ has requested a federal court to dismiss a lawsuit from the cannabis industry seeking to stop the federal ban on marijuana. The DOJ argues that the court should await the DEA's rescheduling decision and that the plaintiffs lack standing, as they haven't faced federal prosecution. The government also cites the constitutional regulation of intrastate marijuana activities and a lack of substantial risk of future enforcement. The lawsuit involves several cannabis companies, including Verano Holdings, Ascend Wellness, Green Thumb Industries, and TerrAscend.
January 24, 2024 | 3:53 pm
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Ascending
NEUTRAL IMPACT
Ascend Wellness is a plaintiff in the lawsuit against the DOJ's enforcement of the federal marijuana ban, which the DOJ is seeking to have dismissed.
The lawsuit's outcome could affect AAWH's operations, but the DOJ's current policy of non-interference with state laws lessens immediate impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Green Thumb Industries is part of the cannabis industry lawsuit against the DOJ, which is under threat of dismissal by the department.
GTBIF's involvement in the lawsuit is significant, but the DOJ's policy minimizes the risk of short-term impact on the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
TerrAscend is among the cannabis companies suing the DOJ to stop the federal marijuana ban, with the DOJ now seeking dismissal of the case.
TerrAscend's role in the lawsuit is noteworthy, yet the DOJ's current enforcement approach reduces the immediate impact on the company.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Verano Holdings is involved in a lawsuit against the DOJ regarding the federal ban on marijuana, which the DOJ has asked to dismiss.
While the lawsuit's dismissal could maintain the status quo, the lack of immediate federal prosecution reduces the short-term impact on VRNOF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70