News and Alerts
Over the last thirty-six months, Sadis & Goldberg has assembled a cross-practice Cannabis Practice Group to provide greater legal insight to businesses operating in this rapidly growing and dynamic industry where state, federal and international regulations remain in transition.
The U.S. Securities and Exchange Commission ("SEC") scheduled a June 5th vote on its Regulation Best Interest rulemaking package. SEC will consider whether to adopt a new rule to establish a "best interest" standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation to a retail customer of any securities transaction or investment strategy involving securities. The existing requirement is that broker-dealers recommend "suitable" investments for clients, falling short of a fiduciary standard.
Private Equity Law Report published an article written by Vincent Pitaro highlighting our most recent cannabis webinar, State of the Union: M&A in the Cannabis Space, hosted by Paul Marino (Partner), Robert Cromwell (Counsel), and Eliott Frank (Partner) and featuring Michael Feinsod and Hunter Garthe of General Cannabis on April 16, 2019.
Ron Geffner (Partner) was mentioned in an article in Investors’ Business Daily discussing the SALT panel, "Navigating the New Frontier of Cannabis Investing.”
The litigation team from Sadis & Goldberg LLP led by Sam Lieberman (Partner) and Ben Hutman (Associate) was given honorable mention for “Litigator of the Week” in the New York Law Journal for their work in the DangDang Case. For more about the DangDang Case, click here. To read the full article on the New York Law Journal’s website, click the button below.
The friction inherent in the divide between state and federal treatment of cannabis has been a major impediment to the growth and evolutionary development of the industry on a national integrated scale. Access to banking and financial markets, in particular, has been an issue for many businesses in the cannabis industry, as a result of the reluctance of many institutions in the banking sector to provide banking services to cannabis-related businesses and service providers.
Sadis & Goldberg has expanded its litigation team with the addition of Counsel James Ancone. Mr. Ancone’s practice focuses on financial services litigation. In particular, he has extensive experience advising clients, including liquidators, officers, and directors, involved in cross-border disputes. He recently represented the officers and directors of a Cayman Islands reinsurance company in the Davis v. Scottish Re Grp. Ltd. shareholder action in the New York State Commercial Division.
Toronto-based Menē crafts pure 24 karat gold and platinum jewelry that is sold by gram weight. Through its website, mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices.
A team of Sadis attorneys led by Partner Paul J. Marino represented Apex Group Ltd. ("Apex") in the acquisition of Broadscope Fund Administrators LLC ("Broadscope"), a U.S.-based private equity fund administrator.
A team of Sadis attorneys led by Partner Paul J. Marino represented Bitfarms Ltd. ("Bitfarms") in a $20,000,000 strategic debt financing (the "Loan Financing") which was provided by New York-based Dominion Capital LLC ("Dominion") and will be made available in four $5,000,000 tranches tied to the ongoing satisfaction of customary covenants and various milestones, including Bitfarms' infrastructure build-out and associated mining hardware purchases.