Last November, I wrote this post about a recent case filed by the Securities and Exchange Commission naming cannabis industry players for an alleged stock promotion scheme (or, as some call them, anti-touting violations). Last month, the primary individual defendant, Jonathan Mikula, filed a Motion to Dismiss the claims against him. The other individual defendant,
Not much thought is given to ancillary CBD liability. Why is that? Probably because the Food and Drug Administration (“FDA”) hasn’t taken any serious enforcement action against any company or individual that aids and abets violations of the Food, Drug & Cosmetic Act (the “Act”) when it comes to CBD. Still, secondary CBD liability under
It’s no secret that state cannabis markets across the nation are suffering badly. Because of I.R.C. 280E, lack of access to financial institutions, massive operational expenses, plunging prices, and just gluts of production, it’s not pretty out there. However, there’s a newish light at the end of the tunnel, at least for California and other
Hong Kong and the negative developments taking place there have been the subject of many posts in our sister China Law Blog. But now it is our turn to report on the Fragrant Harbor. Unfortunately, the news is also bad on the cannabis front, just like on the political and economic ones. From February 1
As we inch closer to a cannabis recession, businesses are desperately looking for new ways to stay afloat. A few years ago, our cannabis attorneys saw equity investments left and right. It seemed like everyone wanted to own a piece of a cannabis business. But as things grow more precarious for the industry as a
The 2023 Oregon legislative session kicked off yesterday. It’s a regular session this year, meaning we’re in for a longer stretch– a 160 day calendar, versus the 35 day affair we see in even-numbered years. Following November’s elections, the state government also looks quite different than the last few years, from the Governor’s office on
Will we see tax reform in 2023 for cannabis sellers? Specifically, will Congress finally get something done about the pain inflicted on industry by the Internal Revenue Code at 26 USC § 280E? (“IRC 28oE”.) It feels like a long shot, but you never know. After many attempts to get the SAFE Banking Act through
There has been so much talk from the Food and Drug Administration (“FDA”) around cannabidiol (“CBD”) regulations that it makes one’s head spin. For years everyone has wondered when, or even if, the FDA would propose and adopt CBD regulations. To date, while taking input from the public on the topic, the FDA mostly has
Welcome to the seventh annual “State of the State” post on Oregon cannabis. For the first year since program launch, regulated cannabis sales fell in the state. We also saw significant legislative and regulatory changes, further contraction of the hemp industry and a myriad of interesting odds and ends. Overall, it has been a rocky
As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Here’s the memo (“Memo”).
