A man arrested for growing marijuana told a Colorado federal judge Friday that the Canadian private equity firms named in his racketeering suit can't exit the case because they admit in their pleadings to providing funding for a federally illegal cannabis enterprise.
A pair of Canadian private equity firms named in a man's sprawling racketeering suit alleging cannabis companies Verano Holdings LLC and Harvest Health & Recreation Inc. were responsible for his arrest have asked a federal judge in Colorado to dismiss the case or put it on hold so it can be handled via arbitration.
PE Firms Want Out Of Pot RICO Suit Against Harvest, Verano law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
Verano Accused in Lawsuit of Illegal Interstate Marijuana Trafficking March 12, 2021
Marijuana industry giant Verano Holdings of Chicago was named in a federal lawsuit filed in Colorado by state resident Nicholas Nielsen on Monday.
Verano Holdings currently runs eight cultivation facilities and 56 retail operations, with plans to expand to 76 locations in the near future. The company also recently went live on the Candian Stock Exchange with an estimated worth of $3 billion dollars.
According to their own website, Verano “is a leading, vertically-integrated, multi-state cannabis operator in the U.S., devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands…”
ADVERTISEMENT
ADVERTISEMENT
Verano, Harvest Hit With RICO Suit By Ex-Worker After Arrest
Law360 (March 10, 2021, 11:56 PM EST) Cannabis companies Verano Holdings LLC and Harvest Health & Recreation Inc. have been named in a Racketeer Influenced and Corrupt Organizations Act lawsuit by a man who said he was working for them on the launch of an Arkansas cultivation facility when he was arrested for growing marijuana.
Nicholas Nielsen, whose suit lists roughly 50 individuals and entities as defendants, said he was employed by Randy Taylor Consulting LLC when he was arrested on suspicion of cultivating and possessing marijuana in January. He said he was criminally charged with setting up an Arkansas dispensary for several of the corporate defendants..