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New York cannabis regulators on Monday approved a resolution to settle two lawsuits challenging the state's marijuana retail licensing program, including one that has hobbled the state's effort to award licenses to those with past convictions and has left hundreds of entrepreneurs in limbo.
The resolution to approve the settlements was unanimously approved by members of the Cannabis Control Board at an emergency meeting Monday afternoon, some two weeks after one of the litigants filed a letter in state appellate court indicating that an agreement in principle had been reached.
"Today's approval of the settlement agreement by the New York State Cannabis Control Board marks a momentous step forward in our mission to cultivate a diverse and inclusive cannabis market," CCB Chair Tremaine Wright said in a statement. "Once this settlement is approved, we are hopeful those impacted by the injunction will be empowered to open their storefronts and embark on their entrepreneurial journeys, bringing us closer to our goals."
Regulators did not divulge the details of the settlements, which will still need approval from a state judge to lift the injunction that halted the Office of Cannabis Management's CAURD program.
