IAnthus Investors Revise Pot Co. Suits To Beat Legal Hurdles

By Sarah Jarvis (November 4, 2021, 9:39 PM EDT) -- Cannabis company iAnthus Capital Holdings Inc. has been hit with a pair of amended shareholder suits after a New York federal judge determined the investors' previous complaints didn't satisfy a landmark U.S. Supreme Court decision's requirements for domestic trading activity.

Jose Antonio Silva, lead plaintiff in a consolidated class action against the company, and Hi-Med LLC, iAnthus' largest shareholder which filed its own suit, filed amended complaints Wednesday following the August ruling from U.S. District Judge Lewis A. Kaplan. The investors had previously alleged that iAnthus' shares are listed on the Canadian Stock Exchange and trade in the U.S. on the...

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