News from: Weedmaps, Skymint, Arkansas, Louisiana and more.
The Daily Hit is a recap of the top financial news stories for Monday, October 21, 2024.
On the Site
Investors begin class action lawsuit against Weedmaps
The lawsuit follows agreements by the company and former executives to pay fines regarding misleading statements.
Arkansas Supreme Court kills medical marijuana ballot measure
The court ruled that the title and language was “misleading” and included a provision that would legalize adult use eventually.
Louisiana hemp industry sues state over ‘vague’ new THC limits
The lawsuit argues Louisiana’s law goes too far by redefining industrial hemp based on total THC content rather than just delta-9 THC.
Report: 30 Massachusetts marijuana business permits relinquished in past year
Some attribute the shift to the high cost of doing business, while others point to market maturation.
Auction marks end of beleaguered Michigan marijuana company’s grow operation
Skymint is auctioning off the remainder of its equipment as creditors prepare to walk away from the company.
In Other News
RECALL: Ohio
The Ohio Division of Cannabis Control issued a product recall on batches of plant material harvested by the cultivator Paragon Development Group LLC because of packaging that may not be child resistant.
SNDL
SNDL Inc. and Nova Cannabis Inc. closed on the previously announced plan of arrangement under which SNDL has acquired all of the issued and outstanding common shares in the capital of Nova not already owned by SNDL.
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