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DOJ whistleblower: Bill Barr improperly targeted marijuana companies with investigations because he 'did not like' their business
A DOJ whistleblower alleges that Attorney General Bill Barr improperly targeted cannabis M&A transactions due to his personal dislike for the industry. We are optimistic that this federal whistleblower complaint could stimulate cannabis M&A, given how politically difficult it would be for the DOJ to intervene in light of this recent political interference.
Cannabis case challenges non-deductibility of expenses
Harborside in California, founded by industry veteran Steve DeAngelo, is continuing its challenge of the federal tax code 280E, which the company's legal team says is unconstitutional and runs afoul of the 16th Amendment.
Justice Department blocks 'essential' marijuana workers from bankruptcy protection
"People working in the marijuana industry will face challenges if they file for bankruptcy until Congress addresses the conflict with federal drug laws," said Judge Reomero of the U.S. Bankruptcy Court, "Unfortunately, the courts find themselves in a game of whack-a-mole."
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The Rising Tide of Legalization: June 19, 2020
With the protests that have been roiling the United States these past few weeks, the country has been faced with difficult questions about the criminal justice system. Given its illegal status at the federal level, cannabis has been in direct conflict with the criminal justice system since it was made illegal in 1937. Questions about reform have been at the forefront of the industry for generations, and those questions have only become more complicated by the "rising tide of legalization" beneath the industry. U.S. cannabis consumers overwhelmingly support criminal justice reforms (see this week's first article below), and with a vast majority of Americans in support of cannabis legalization, questions around reform will only become more pressing, especially as state and local governments face pressure to tap the industry for the tax revenue and jobs created by legalized cannabis.