On June 19, 2017, the New York Stock Exchange withdrew its proposal, originally submitted in March, to allow companies to list on the big board through a so-called "self-filing" without an IPO. In a self-filing, a company seeks for previously issued shares of stock to...
[Updated July 4, 2017 to reflect the addition of Greece which legalized medical cannabis.] A fascinating article in Wikipedia scours the globe to see which countries have taken action to legalize or decriminalize the use of cannabis. While we focus heavily on the dramatic trend here in the...
Florida Gov. Rick Scott this past Friday signed legislation to implement the legalization of medical marijuana there. Over 70% of Florida voters approved a constitutional amendment last fall setting up the new regime. Scott, a Republican, opposed the constitutional amendment, but signed the bill without...
Duane Morris (and my) client Myomo Inc., a medical robotics company, completed its initial public offering on June 9, 2017 under SEC Regulation A+ created under the Jumpstart Our Business Startups (JOBS) Act of 2012. The historic deal is the first Reg A+ IPO to...
The New York Hedge Found Roundtable, made up of professional investors who generally focus on "alternative investments," the other day said its members believe investing in cannabis companies is "appealing." The normal alternative investments one thinks of, derivative securities, hedge and private equity funds and...
On May 4, 2017, the House Financial Services Committee narrowly, by a vote of 34-26, passed the Financial CHOICE Act of 2017, which now moves to the full House. Most of the bill relates to rollbacks of Dodd-Frank provisions that are better covered by those...
The ABA Journal reports that Amazon's Alexa-enabled artificial intelligence devices now can help attorneys, accountants and other timekeepers keep track of their billable time. According to the story, Thomson Reuters has a new assistant that can allow users to simply speak to Alexa and record time. It...
The President signed a budget bill last Friday that will keep the government funded through the end of September. After signing the bill, the President issued a statement which, among other things, declared some provisions in the bill unconstitutional, and seemed to suggest that he will...
It's looking good. The Rohrabacher-Farr Amendment to the last several years of federal budget bills has prevented the federal government from using its money to prevent the implementation of state medical cannabis laws since 2014. However, the amendment must be renewed each year with the...
Earlier this week WV Governor Jim Justice (great name) signed into law a bill passed by the state legislature to permit the production and sale of medical marijuana in the state. This makes West Virginia the 29th US state to legalize medical marijuana. It is...