Thursday, June 3, 2021
Even as Governors lift mask mandates and sporting events welcome fans to stadiums, some states are revisiting their price gouging laws. Recently, several states have advanced legislation to amend or create price gouging statutes. State governments are learning from experiences during COVID-19 emergencies and some are proposing legislation to adjust the scope, definitions, and penalties for price gouging.
Nevada
Nevada does not currently have a price gouging statute. At the outset of the COVID-19 pandemic, the Governor issued an executive order directing law enforcement to “monitor and investigate” various business practices including coordinated pricing, fraud, or coercion. EO 2020-03-12, § 5. But, the state of emergency did not trigger specific pricing restrictions.
Another busy week in cannabis saw the stock market post generalized losses, as
Amazon.com Inc. (NASDAQ:AMZN) came out in support of the federal legalization of marijuana, announcing it will drop marijuana testing requirements for some of its workers.
Dave Clark, CEO of Amazon’s worldwide consumer division, said in a blog post that the e-commerce giant will actively support the Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act), which would decriminalize marijuana at the federal level. The bill was reintroduced in Congress last Friday.
Canopy Growth Corporation (TSX:WEED) (NASDAQ: CGC) reported its fourth quarter and fiscal year 2021 earnings with a net loss for the year amounting to CA$1.7 billion ($1.41 billion), representing a CA$283 million wider loss versus FY 2020.