Law360, New York (January 13, 2017, 4:08 PM EST) -- Marijuana is illegal under federal criminal law. Notwithstanding the federal ban, 23 states and the District of Columbia have legalized the use of medical marijuana. Additionally, every issuer that intends to raise capital from investors for a marijuana-related business must provide a list of risk factors relating to the industry and current legal atmosphere, including informing investors that the issuer may be unable to repay the investors based on the current laws.
As of October 2016, there are 190 public marijuana-related companies. At the end of 2014, the U.S. Securities and Exchange Commission approved registration of shares for Terra Tech Corp.,...
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