Fayne Quoted in POLITICO Pro Cannabis on Newly Issued "Second Request" Notices in Cannabis Industry
Adam Fayne, co-chair of the Firm's Cannabis Law Practice, is quoted in an article published by POLITICO Pro Cannabis, a subscription-only service. Adam commented on the Justice Department's recently issued "second request" notices that are sent to cannabis industry companies involved in mergers. According to Adam, the inquiries have significant implications for companies.
"It's a huge expense, both financially and resource wise. The responses are very voluminous and detailed and what it takes to respond is a lot of time," said Adam. "I think that the Justice Department is using its tools to get educated on the industry. They just don't want to get caught flat-footed somewhere down the line. These acquisitions were occurring at such a rapid pace and going so fast that I think the Justice Department just decided that they had to understand what was going on here to make sure they weren't missing anything."