Federal Ruling Shows Tolerance Of State-Legalized Cannabis
Law360 (March 9, 2020, 4:40 PM EDT) -- A recent decision from the U.S. District Court for the District of Arizona is another instance of the federal government's active tolerance of the state-legal cannabis industry.
In Tryke Management Services LLC v. Linx Card Inc., Tryke, a cannabis dispensary company operating in Arizona and Nevada, sued Linx, a payment processor operating a closed-loop payment network for state-legal cannabis businesses.
Although the court denied Tryke's request to appoint a receiver, it did so after a standard application of the relevant federal standard and without a word for the argument that federal courts cannot oversee the operation of businesses directly participating in...
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