StaffThe Daily Hit is a recap of the top financial news stories for Monday, June 17, 2024.
On the Site
The Cannabist Company to exit Florida, focus on Ohio, Delaware
The Cannabist said it already has several letters of intent signed for the acquisition of its Florida assets.
NYC’s cannabis crackdown sparks class-action over enforcement tactics
The lawsuit alleges due process violations as city shutters hundreds of unlicensed shops.
Washington vape company battles Chinese manufacturer over patent claims
The new suit alleges that the Smoore broke antitrust laws by illegally controlling pricing, supply, and driving competitors out of business.
Massachusetts regulators allow cannabis deliveries to islands
The change will allow dispensaries on Martha’s Vineyard and Nantucket to continue operating.
Verano Holdings to buy back $50M in shares
The company said it is trying to support its stock price and return cash to shareholders.
In Other News
Holland Cannabis
Vermont-based Holland Cannabis is questioning the authority of the Vermont Cannabis Control Board, which ordered it to halt operations after finding positive tests for a banned substance in Holland’s product.
California
Cannabis is legal and subject to regulation in the Golden State, but a joint investigation by The Los Angeles Times and WeedWeek found that regulators often fail to get contaminated cannabis products off shelves.
Connecticut
New rules on cannabis cultivation and the sale of THC-infused beverages are among the 95 laws that take effect when Connecticut’s next fiscal year starts on July 1.
