In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
#cbdproducts – “The maker of CBD prescription drug Epidiolex has filed a lawsuit in the USA alleging patent infringement.
GW Research Ltd, a subsidiary of Ireland-based Jazz Pharmaceuticals, claims that more than 15 drugmakers are violating its patents as they develop generic versions of Epidiolex, the only pharmaceutical containing CBD that is approved by the U.S. Food and Drug Administration (FDA).”
#cannabisindustry – “A cannabis equipment company must face a suit from two people who said the firm refused a refund after selling them a $357,000 extractor that did not process as much product as promised, a federal judge has ruled, saying fraud would void a one-year time limit for bringing the dispute contained in the sales contract.
Ryan Elmore and Warren Blesofsky said in their Ohio federal court suit that the 2000-20LX20LDU DUPLEX extractor they bought from Apeks LLC in 2018 was dysfunctional from day one of operation, only processing a fraction of the amount of cannabis Apeks had promised. Additionally, Elmore and Blesofsky said the supplier reneged an agreement for a full refund reimbursement for replacement parts.”
#cannabisindustry – “A Maryland appellate panel Friday upheld a lower court’s decision authorizing the state’s medical marijuana regulator to recall a batch of cannabis-infused chocolates for being out of compliance with state rules governing marijuana edibles.
In an unpublished opinion written by Judge Douglas R. M. Nazarian, the three-judge panel determined that the marijuana-infused chocolates produced by Green Thumb Industries Inc. and its subsidiary Chesapeake Alternatives did not comply with packaging regulations despite having been granted initial approval.
“The record supports the view that the approval was an administrative mistake,” Judge Nazarian wrote for the court.
The Maryland Medical Cannabis Commission had granted Green Thumb permission to produce and sell the bars in January 2021, but a few months later, after formally adopting new regulations governing edibles, found that the bars were out of compliance because they could not be separated into single servings.”
#cannabisindustry – “While 2021 featured several big deals, last year was slower because of higher interest rates, less available funding and recession worries.
Those same challenges are expected to weigh on cannabis companies this year and spur executives at struggling companies to seek a rescue.
“2023 will be a banner year in rescue financing, distressed M&A, and restructuring both in Canada and the U.S.,” Frank Colombo, director of data analytics at New York-based Viridian Capital Advisors, wrote in the Jan. 13 edition of his newsletter.”
#cannabisindustry – “Executives at the company, MoneyTree Genetics, believe the business is able to transact with the public and the state-licensed cannabis space based on a letter the Drug Enforcement Administration (DEA) sent in January 2022 in response to an inquiry from Vicente Sederberg’s Shane Pennington on cannabis seeds’ legality; the DEA’s letter indicates that all cannabis seed that has a delta-9 THC concentration that does not exceed 0.3% is legal under the Agriculture Improvement Act of 2018, commonly called the 2018 Farm Bill.”