The fate of a $73 million deal for a slice of New York’s marijuana market has headed to the courtroom, where two companies are locked in a dispute over a state Cannabis Control Board decision and the alleged politicking behind it.
Ascend Wellness Holdings announced in February that it would acquire a nearly 87% stake in MedMen’s New York subsidiary, one of 10 companies licensed to distribute medical marijuana in the state. State regulators approved the change in ownership late last year.
But in papers filed Monday in state Supreme Court in Manhattan, MedMen accused Ascend of exerting “improper influence” on the state approval process to meet a
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