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A $600 million lawsuit claims fraud by medical marijuana company with CNY origins

Syracuse.com · Sean Teehan · last updated
A lawsuit claiming $600 million in damages against a medical marijuana company that originated with a group of prominent investors in Syracuse is headed for a court hearing this week. The Syracuse founders are among nearly 30 defendants, including Acreage Holdings, one of New York’s 10 registered medical cannabis operators. The suit alleges the company participated in a scheme to illegally squeeze a partner out of a medical marijuana license. The group planned to establish a vertically integrated medical cannabis company, and seek one of those five licenses. State officials later expanded the number of licensed medical cannabis operators to include 10 companies, and the company received licensure in 2017.
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