MedMen Says Lawsuit Filed By Early Investors Voluntarily Dismissed; Plaintiffs Now Seeking Arbitration

A lawsuit filed against MedMen Enterprises Inc. (OTC: MMNFF) that argued CEO Adam Bierman and President Andrew Modlin made decisions in their own personal interest rather than that of shareholders has been dismissed, the cannabis company said Thursday. 

What Happened

Plaintiffs Brent Cox, Omar Mangalji and MMMG-MC voluntarily dismissed the case, which was filed in Los Angeles Superior Court, MedMen said. MMMG-MC is an affiliate of Inception Companies, a cannabis real estate investment trust. 

The dismissed case eliminates a suit that MedMen, its related brands and co-founders Adam Bierman and Andrew Modlin considered “frivolous” from its onset, the company said. 

The plaintiffs were early investors who had earned millions and …

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