Investor Demands MedMen Execs' Homes Over Troubled Loan

By Jack Queen (April 15, 2020, 5:09 PM EDT) -- An angel investor in MedMen has told a California state court that the struggling cannabis company's co-founders and former executives have refused to hand over the deeds to their homes as collateral on a $10.2 million loan.

Milestone Investments LP said in a complaint Monday that three executives agreed to put up their homes to backstop the loan, which was tendered last December to help MedMen stay afloat as it grappled with unpaid bills and a share price wallowing at more than 90% below its one-time high.

Alaska-based Milestone said it repeatedly asked MedMen's sidelined co-founders, Adam Bierman and Andrew Modlin,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!