After Bankruptcy Tossed, UCANN Drops Historic Patent Suit

By Diana Novak Jones (April 1, 2021, 5:37 PM EDT) -- United Cannabis Corp. is dropping its patent suit against rival Pure Hemp Collective, cutting short the closely watched litigation after the company's bankruptcy petition was thrown out over its connection to a federally illegal substance.

United Cannabis, or UCANN, told a Colorado federal judge Wednesday it had reached an agreement with Pure Hemp to dismiss the intellectual property dispute. But it may not be the end of the fight between the two companies, as UCANN has agreed to drop its claims with prejudice but Pure Hemp's dismissal allows for refiling of its counterclaims, according to the filing.

UCANN sued Pure Hemp...

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