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MedMen founders’ new company sues pot chain over sale plans

A company run by the ousted co-founders of cannabis giant MedMen has alleged in a lawsuit that the founders of a California dispensary chain that it has invested in are planning to sell off the company to benefit themselves.

According to a complaint removed to California federal court on Sunday, the principals of dispensary chain Coastal Holding Co. are selling off the company without consulting the shareholders who should have a say in the matter.

The complaint was filed by an entity called LMAJ LLC, whose officers include Adam Bierman and Andrew Modlin, the MedMen co-founders who resigned from the company…

To Read The Rest Of This Article By Staff on Law360

Published: September 25, 2021

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