Simply in case you thought it was protected to cease fascinated with the battle between MedMen (CSE:MMEN) (OTCQX:MMNFF) and Ascend Wellness Holdings (OTCQX:AAWH), a brand new twist pulls you proper again in.
The usually vitriolic court docket battle between two hashish firms over a licensing deal gone unhealthy and alleged political misconduct appears to have taken a one other flip, reported amNY.
Legal professionals with Ascend Wellness mentioned that MedMen has indicated it will withdraw its allegations that Ascend executives put political strain on Gov. Kathy Hochul’s administration to approve a medical marijuana license switch between the 2 firms, the unique supply of the battle.
Ascend, which is hoping to arrange operations in New York, filed a lawsuit in state court docket in January in opposition to MedMen that claimed the defendant had not fulfilled a contract handy over $73 million value of in-state licensed operations.
In response, MedMen filed a counterclaim accusing Ascend of leaning on Hochul’s administration and the Workplace of Hashish Administration to approve the license switch between the 2 firms.
After Ascend’s counsel supplied proof that conflicted with MedMen’s assertions final week, Mylan Denerstein, a lawyer representing Ascend, mentioned that counsel for MedMen has agreed to withdraw that allegation.
“Like all home of playing cards, MedMen’s claims collapsed when uncovered to the slightest scrutiny. Ascend will proceed to right the file and appears ahead to coming into New York’s hashish market as soon as its rights are vindicated in court docket,” Denerstein mentioned in a press release to amNY.
MedMen had accused Ascend’s president Andrew Brown of attending a fundraiser for Hochul on Dec. 8, and its CEO Abner Kurtin of assembly with the governor’s secretary that very same week to strain on the state to push the deal by means of.
Ascend responded final week in its movement to dismiss the counter go well with that MedMen’s narrative about political strain is made up. Ascend argued that MedMen’s claims have been an try and kill the deal after it obtained a case of “vendor’s regret” and hoped “to strike a greater take care of a brand new purchaser.”
As proof to its counterclaim, Ascend submitted court docket logs and a lodge receipt that present Brown offering authorized counsel and staying at a lodge in Albany on the day that MedMen accused him of attending the Manhattan fundraiser.
A spokesperson from Gov. Hochul’s administration additionally known as MedMen’s accusations false.
