Pot Co. IAnthus Dodges Investor Suit, For Now

By Sarah Jarvis (August 31, 2021, 2:45 PM EDT) -- Cannabis company iAnthus Capital Holdings Inc. has escaped shareholder suits for now, a New York federal judge has ruled, after the plaintiffs couldn't satisfy a landmark U.S. Supreme Court decision's requirements for domestic trading activity.

U.S. District Judge Lewis A. Kaplan said in Monday's opinion that Jose Antonio Silva, lead plaintiff in consolidated class action cases against the company, and Hi-Med LLC, iAnthus' largest shareholder which filed its own suit, have until Sept. 30 to move for leave to file second amended complaints.

Judge Kaplan said the high court's 2010 decision in Morrison v. National Australia Bank Ltd. instructs courts to...

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