News & Analysis as of

Marijuana Related Businesses Securities and Exchange Commission (SEC)

A&O Shearman

Southern District Of New York Grants Motion To Dismiss Putative Securities Class Action Against Cannabis Company For Failure To...

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On July 17, 2024, Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York granted a motion to dismiss a putative securities class action against a cannabis company and three of its officers....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2023

The U.S. Supreme Court will likely decide before the end of its current term whether the failure to make a disclosure pursuant to Item 303 of Regulation S-K can serve as the basis for a securities fraud claim under Section...more

Perkins Coie

Cannabis Legal Report - March 2023 #3

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Two Bipartisan Bills Introduced to Regulate CBD - Representatives Morgan Griffith (R-VA) and Angie Craig (D-MN) reintroduced the Hemp and Hemp-Derived Cannabidiol (CBD) Consumer Protection and Market Stabilization Act of...more

Perkins Coie

New York Cannabis Co. Investor Suit Survives Motion To Dismiss

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The District Court for the Western District of New York denied a motion on January 6, 2023, to dismiss claims alleging that a publicly traded company misled investors regarding an investigation by the U.S. Securities and...more

Bradley Arant Boult Cummings LLP

Money Doesn’t Grow on Leaves: Cannabis Investing for Dummies (and Non-Dummies)

When people learn that you are a cannabis attorney, there are a range of reactions. Nervous laughter bordering on incredulity may be most common. Another common reaction is the sentiment that investing in cannabis is a...more

Burns & Levinson LLP

SPACs – Hedging Risks in Light of SEC’s Urge for Market Slowdown

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Special purpose acquisition companies (SPACs), or “blank check” companies, have been one of the most popular investments and investment vehicles over the past year – an alarming 308 SPACs have gone public since the start of...more

Foley & Lardner LLP

Reading the Leaves: What's in Store for Cannabis in 2021

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On the heels of a year beset by turmoil and the myriad challenges caused by the global pandemic, the cannabis industry nevertheless entered 2021 poised for significant growth amid a landscape teeming with opportunity. Public...more

Perkins Coie

Fintech Week in Review - January 2021 #3

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Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Faegre Drinker Biddle & Reath LLP

SEC Enforcement Victory in its Efforts to Police Cannabis Industry Investments

As the cannabis industry continues to evolve and generate capital raising and investment opportunities, the SEC Division of Enforcement will continue to closely keep watch and target the bad actors that new market...more

Burns & Levinson LLP

Changes to the Accredited Investor Definition

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Marijuana-related businesses (“MRBs”) planning to raise money in private offerings should be aware of recent changes to the “accredited investor” definition under the Securities Act of 1933, as amended (“Securities Act”).  ...more

Seyfarth Shaw LLP

The Week in Weed: January 2020 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. The big news in cannabis this week comes from New Mexico.  Legislation introduced last Thursday would legalize...more

Burns & Levinson LLP

Raising Capital in the Cannabis Industry: Fundraising Do’s and Don’ts

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Last year proved challenging for companies seeking to raise capital in the cannabis industry. The capital markets tightened and available funding dried up. Many of the industry’s publicly traded companies saw precipitous...more

Goodwin

Financial Services Weekly News: SEC Proposes New Derivatives Rule

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In This Issue. The Securities and Exchange Commission (SEC) proposed a rule that would permit funds to enter into derivative and certain other transactions, notwithstanding leverage restrictions under the Investment Company...more

Goodwin

Financial Services Weekly News: House Passes Cannabis Banking Bill

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In This Issue. The U.S. House of Representatives voted to approve the SAFE Banking Act, which would permit banks to serve cannabis-related businesses in states where it is legal; the Securities and Exchange Commission (SEC)...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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We’re glad the steak dinner went well, but we’re also still anxiously awaiting actual details about what exactly is covered by the pause in the US/China trade war....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wall Street apparently views a divided Congress as a good thing (think less chance of tighter regulation), and it celebrated by pushing the Dow up 500 points and jumping back into tech stocks....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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More on the rather shocking departure of John Flannery from GE, the Board that didn’t want to give him any more leash for his turnaround plans, and the future of the embattled corporate giant under Larry Culp....more

Dorsey & Whitney LLP

Marijuana Investments and Fraud Featured in SEC Investor Alert

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The marijuana industry is attracting considerable interest from investors, and unfortunately, scam artists trying to take advantage of those investors. In response to these concerns, on September 5, 2018, the Securities and...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Walmart’s broader foray into the grocery biz—letting customers order online and pick up in person and expanding home delivery—is paying dividends for the retailer and helping push its revenue up 3.8% from this period a year...more

Dorsey & Whitney LLP

Canadian Cannabis Companies Begin to Trade on National Stock Exchanges in the United States

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With the listing on May 24th of Canopy Growth Corporation (Canopy) on the New York Stock Exchange (NYSE), both NASDAQ and the NYSE have permitted Canadian cannabis companies to trade on their respective exchanges. Canopy, the...more

Goodwin

Financial Services Weekly News - January 2018

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Editor's Note - A Busy Holiday Season. We hope that all of you had a happy holiday season and wish everyone a happy, healthy and prosperous new year. While the Roundup has been on hiatus during the holidays, the federal...more

Ballard Spahr LLP

The Marijuana Industry and the Securities Laws

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Part Three of a Three-Part Series - In the third and final part of this series on marijuana-related businesses (“MRBs”), we explore how the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”)...more

Fox Rothschild LLP

So You Want To Invest In A Cannabis Business...

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Many people see the green of cannabis as a way to the pot of gold at the end of the rainbow. If you are going to invest in a legal (at a state level) cannabis business, you need to make sure that you know what you purchase....more

Baker Donelson

Post-Election Events Making Waves in the Cannabis Industry

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As we reported previously, the cannabis industry had a historic election night, with eight out of nine states approving their respective referendums legalizing some form of adult cannabis use. In the short time since that...more

Goodwin

Financial Services Weekly News - January 2016 #2

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Regulatory Developments - Client Alert: FINRA Releases 2016 Regulatory and Examination Priorities Letter - Goodwin Procter’s Investment Management practice has issued a client alert on FINRA’s Jan. 5 release of its...more

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