'Marijuana Companies Ask Federal Court To Set Oral Arguments On DOJ Claim That Cannabis 'Tourism' Justifies Prohibition Enforcement' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
Marijuana companies, led by Verano Holdings Corp., Canna Provisions, Wiseacre Farm, and Treevit CEO Gyasi Sellers, are challenging the DOJ's enforcement of cannabis prohibition, arguing it infringes on state rights. They request oral arguments in a Massachusetts federal court to address constitutional questions and the DOJ's stance that cannabis legalization promotes 'tourism' justifying federal prohibition. The case, supported by law firms Boies Schiller and Flexner LLP and Lesser, Newman, Aleo and Nasser LLP, highlights the conflict between state-legal cannabis activities and federal enforcement under the Controlled Substances Act.
April 15, 2024 | 7:26 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Verano Holdings Corp. leads a lawsuit against the DOJ, challenging federal cannabis prohibition enforcement and its impact on state-legal activities.
As the lead plaintiff in a significant legal challenge against the DOJ, Verano Holdings Corp.'s involvement places it at the forefront of a pivotal case that could influence federal cannabis policy. However, the outcome is uncertain, and the direct short-term impact on the company's stock price is likely to be neutral until clearer developments emerge.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90