New York’s Cannabis Control Board announced on Monday that it has approved settlements for two lawsuits that had prevented the state’s regulators from issuing new marijuana licenses and dispensaries from opening.
Pending approval of the New York State Supreme Court, the agreement will reintroduce the Conditional Adult-Use Retail Dispensary licensing program that prioritizes access to opportunities to sell cannabis legally to individuals with prior convictions related to marijuana offences.
Two lawsuits challenged the program, one from a group of four service-disabled veterans who claimed they were barred from applying and an earlier suit filed by a coalition of New York medical cannabis companies.
BREAKING: The #NYCCB approved agreement terms in hopes of continuing the CAURD program.
If the NYS Supreme Court approves the agreement terms, it will mark the end of the injunction and spark a new wave of #NYcannabis dispensary openings.
— NYS Office of Cannabis Management (@nys_cannabis) November 27, 2023
As a result, the state had been barred from processing or issuing retail marijuana licenses since August.
Once the settlements are approved, 436 provisional retail license holders will be able to move forward with their stores and new applications to grow, process, distribute or sell marijuana can be received.
The terms of the settlements were not disclosed by the Cannabis Control Board.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie