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. Read more here. Arkansas Supreme Court kills …
Auction marks end of beleaguered Michigan marijuana company’s grow operation
This story was republished with permission from Crain’s Detroit. The remaining assets — ovens, centrifuges, laptops, lighting and a candy production line — of the state’s once-largest marijuana growing operation are up for auction. Skymint, whose cultivation assets have been under the authority of a court-ordered receiver since March 2023, …
Louisiana hemp industry sues state over ‘vague’ new THC limits
Louisiana’s hemp industry is challenging a new state law that tightens restrictions on hemp-derived products, arguing it conflicts with federal law and could criminalize products that have been legal for for the half a decade now. According to Law360, the Hemp Association of Louisiana and Cypress Hemp LLC filed a …
Investors begin class action lawsuit against Weedmaps
Investors filed a class action lawsuit against cannabis online marketplace WM Technology Inc. (NASDAQ: MAPS), better known as Weedmaps, citing the company’s misleading and false statements. Misleading statements In September, Green Market Report wrote that Weedmaps agreed to pay the Securities and Exchange Commission (SEC) $1.5 million to settle claims …