In the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
#psychedelics – “Evidence from early-stage trials shows that psychedelic drugs may help treat chronic pain as they reduce symptoms of conditions such as fibromyalgia and chronic Lyme disease. While these early results are encouraging, research on these substances as pain remedies is still in its infancy and many have not been rigorously tested in large-scale clinical trials.”
#psychedelics – “The anticipation builds for the FDA’s approval of MDMA-assisted therapy for PTSD, which will mark a first for a psychedelic drug in mainstream medicine. MDMA’s potential extends to patients with multiple or treatment-resistant disorders, particularly those who concurrently suffer from PTSD and substance use disorder (SUD).”
https://neurosciencenews.com/
#cannabislawsuit – “A California federal judge approved a joint agreement which permanently enjoins a seller from infringing trademarks for AK Futures LLC’s Cake-branded Delta-8 THC vape products, allowing it to escape a lawsuit accusing it of participating in a nationwide scheme to sell counterfeit versions of the products.
U.S. District Judge James V. Selna’s order on Monday signed off on an agreement AK Futures made with Sagar International Inc., also known as Chem Nerdz, which would halt the company from “directly or indirectly infringing” on the Cake trademark. The judgment stipulates that both sides will pay their own costs and attorneys’ fees.”
Vape Seller Permanently Enjoined In Cake Counterfeit Suit: https://www.law360.com/
#cannabislawsuit – “A man currently incarcerated in California state prison is suing cannabis company Canopy Growth Corp. in federal court, alleging that the company failed to properly disclose accounting issues at one of its subsidiaries, leading to a drop in stock prices when the issues came to light.
In a complaint filed Sunday, Columbus Allen Jr. said he intends to represent a class of people who bought stock in Canopy Growth between May 2022 and May 2023, with that period encompassing the allegedly misleading financial statements leading to the stock drop.”
Prisoner Hits Pot Co. With Stock-Drop Suit: https://www.law360.com/
#cannabisindustry – “A new report on the U.S. cannabis market is making the rounds, and paints a pretty dire picture of where the industry is today economically, with just 24.4% of survey respondents saying their business is profitable….
The report admits there was a “strong regional bias, as Oregon-based respondents made up nearly 90% of the total.” That means that out of the 224 responses received, just 24 were from operators outside of Oregon.”