June 17, 2020. MedMen announced that it had reached a settlement with claimants in the amount of 24 million shares (Superior Court of California, County of Los Angeles). Claimants filed a civil petition alleging that MedMen’s co‑founders exploited nearly complete control over the company and its subsidiaries to enrich themselves at the expense of shareholders. In the demand for arbitration, claimants alleged that the way in which the company was structured allowed the co-founders to force lock-up agreements on investors that prevented shareholders from liquidating their investments in the mismanaged company. Under the direction of Professor Steven Feinstein, Crowninshield Financial Research calculated and provided damages estimates for claimants in the matter.


The press release is available here.