FDA Issues Warning Letter to CBD Company for Fraudulent COVID-19 Treatment Claims

On Tuesday, the Food and Drug Administration (“FDA”) and the Federal Trade Commission (“FTC”) issued a Warning Letter issued to Neuro XPF, a company selling CBD products in the U.S., based on claims contained on its website and social media pages that its products can mitigate, prevent, treat, diagnose, or cure COVID-19. The FDA has

By |2020-04-03T15:12:28-06:00April 2nd, 2020|Government and Policy|

HOW COVID-19 FORCE MAJEURE CLAIMS MAY WRECK OR SAVE YOUR BUSINESS

This article is authored by Senior Attorney Steve Schain. Following its rapid spread, on March 11, 2020 the World Health Organization declared coronavirus (“COVID-19”) to be a pandemic thereby potentially voiding every commercial contract via “force majeure” provisions and the common law doctrine of frustration (“Frustration Doctrine”). “Force majeure” events mirror “Acts of God” like

By |2020-03-26T15:12:42-06:00March 26th, 2020|Government and Policy|

MED Adopts Emergency Rules to Accommodate for COVID-19

In efforts to reduce the spread of COVID-19, Governor Jared Polis issued Executive Order D 2020 011 on March 20th, 2020 which temporarily suspends selected regulatory statutes in response to COVID-19. Grouped with numerous other suspensions, the Executive Order allows both Medical and Retail Marijuana Stores (“Licensees”) to conduct online and telephone sales transactions and

By |2020-03-25T16:02:56-06:00March 24th, 2020|Government and Policy|

Beyond Marijuana: How Psychedelics Became the Next Big Wave

Feeling kind of blue?  Experiencing intimacy issues or just plain anxious?  Help may be right around the corner in the form of legalized hallucinogens.  Ranging from plant drugs, like mushroom-derived psilocybin and cactus-derived peyote, to synthetics like Lysergic acid diethylamide (“LSD”) and Methyl​enedioxy​methamphetamine (“MDMA"), hallucinogens are increasingly used to treat recognized disorders, including depression, anxiety,

By |2020-03-25T16:03:42-06:00March 20th, 2020|Regulatory|

Crop Insurance Expands for Domestic Hemp Producers

With the growing popularity of hemp as an agricultural commodity, farmers are gravitating towards hemp production. When growing crops, corn for example, farmers are able to purchase crop insurance to cover or mitigate losses. However, crop insurance is not as accessible for hemp.  Prior to the recent regulatory changes implemented by the Agricultural Improvement Act

By |2020-03-25T16:05:52-06:00March 18th, 2020|Government and Policy|

Finding the Silver Linings in a Stalled Market

Last year was a rollercoaster for cannabis companies. In Q3 of 2019, the “Big Four'' publicly-traded Canadian cannabis corporations collectively lost $14 billion in market capital. And it wasn’t just Q3. Cannabis stocks suffered the majority of last year as companies struggled to meet revenue projections. Unsurprisingly, these enormous losses give investors a lot of

By |2020-03-18T11:53:44-06:00March 18th, 2020|Banking and Finance|

49 State Banking Associations Demand SAFE Banking Act’s Passage

To increase banking access for businesses within or serving the cannabis industry, on March 6, 2020, banking associations from 49 states and Puerto Rico wrote a joint letter to Senate Banking Chairman Mike Crapo (R-Idaho) and ranking member Sherrod Brown (D-Ohio) (“Banking Association Letter”) demanding the passage of the “Secure and Fair Enforcement Banking Act

By |2020-03-12T10:21:46-06:00March 12th, 2020|Government and Policy|

Being Dragged Along or Getting to Tag Along.  Transfers of Equity Interests

Typical LLC operating agreements and corporation bylaws/shareholder agreements have seemingly battleship boilerplate provisions about when, to whom and under what circumstances a person, (human or entity) that owns the equity interest can transfer their equity interest.  There are usually separate provisions for voluntary transfer to affiliates, offer and sale to third parties for valuable consideration

By |2020-03-11T09:54:16-06:00March 11th, 2020|Corporate Securities|

Cannabis Business Structuring for Growth and Exit

by Cátia Kossovsky, Chair Corporate, Securities and Mergers & Acquisitions Practice Group At some point, every company owner will consider how to grow or sell the company that he or she built.  Hopefully, growth planning leads to increased revenues, operations, productivity, and creation of a larger footprint. While an exit strategy could lead to a

By |2020-03-09T09:32:39-06:00March 9th, 2020|Mergers and Acquisitions|