The long and slow dumpster fire that is the immolation of MedMen, as soon as the biggest and probably the most worthwhile hashish firm within the United States (on paper, anyway), is burning down to the last ashes.
After watching the beleaguered multi-state hashish firm lose 95 p.c of its worth and tens of millions of dollars per quarter, the beleaguered and more and more remoted co-founders, Adam Bierman and Andrew Modlin, quietly and finally exited their now-former firm’s board, the corporate introduced on Wednesday.
Lawsuits alleging that the pair ran their firm like a “Wolf of Wall Street-inspired personal slush fund, inspired by Steve Jobs and El Chapo” are settled.
(For all of the ridiculous particulars, just like the multi-million greenback houses and round the clock safety allegedly paid for with investor capital, six-figure jobs for individuals who didn’t appear to do something, and different (alleged!) medical delusions, check out this POLITICO deep dive.)
The lawsuit’s claimants, two of the corporate’s largest exterior traders, acquired sufficient shares to have a really robust say in what occurs with what’s left over.
All that’s left is the battle over the scraps, MedMen’s desiccated after which charred hulk—and figuring out each the villain and the ethical of this cautionary story. [Read More at Forbes]