GTBIF - Turning Over A New Leaf In New York? Cannabis Dispensaries Await Movement After Crucial Lawsuit Settlement | Benzinga
The New York State Cannabis Control Board (CCB) achieved a critical breakthrough in overcoming a legal impasse obstructing the establishment of numerous cannabis dispensaries in the state.
What Happened: In a unanimous decision during Monday's meeting, the board endorsed a settlement agreement linked to an ongoing lawsuit, potentially paving the way for the removal of a court injunction that has disrupted the cannabis industry for almost four months, reported Syracuse.com.
Although the specific details of the settlement remain confidential, Linda Baldwin, General Counsel for the Office of Cannabis Management (OCM), confirmed that all board members thoroughly reviewed the agreement.
Why It Matters: The next pivotal step involves court approval, following which the existing injunction preventing the opening of more than 400 Conditional Adult-Use Retail Dispensary (CAURD) license holders' shop could be lifted. Consequently, the OCM could resume the issuance of new CAURD licenses.
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