GLASF - LA Court Judge Set To Dismiss Major Lawsuit Against California's Top Cannabis Cultivator | Benzinga
After a tentative ruling released Friday, the Los Angeles Superior Court is expected to dismiss a lawsuit against Glass House Brands Inc. (OTCQX:GLASF) (OTC:GHBWF), which has been accused by a competitor of profiting from the illicit cannabis market in California. The decision came ahead of a scheduled hearing this Tuesday, signaling a likely end to the case filed on June 2023.
Catalyst Alleges Glass House Fuels Illegal Trade
The lawsuit, initiated by Catalyst Cannabis Co., a retail chain from Long Beach, claimed that Glass House was indirectly contributing to the underground cannabis market by dealing with “burner distributors.” These distributors allegedly funnel legally produced cannabis to illegal markets across the country, undercutting prices that lawful businesses like Catalyst cannot match.
However, the Judge noted the impracticality of enforcing a halt on Glass House’s alleged activities. He pointed out the responsibility lies with the state’s Department of Cannabis Control (DCC), which is tasked with regulating such matters.
Catalyst CEO Discusses Court's Tentative Decision
Elliot Lewis, CEO of ...