Cannabis Law

  • This is a pre-litigation matter. Claimant alleges that he is a director in the corporate entity that currently hold the licenses for inter alia medical and adult use which the entity uses to operate its dispensary, as well as being an owner, either legally or equitably, of said entity given that the claimant had obtained the original license pre-MAUCRSA. Claimant’s alleges that at some stage, the original license that he had obtained was transferred to an mutual benefit entity wherein he claimed an interest, and as such he retained said interest in the ultimate for-profit entity that currently holds all of the operative licenses.  Claimant contends that his percentage ownership interest should be based on the approximate $5 million-dollar price tag that said licenses fetch in the market. Respondents assert that Claimant was never an owner, director, or interest holder in the entities at issue in this case, and that he was (more than) adequately compensated for the value of the original license that he obtained many years ago.  Claimant’s opening demand amounted to approx. $3,000,000.00.