In what’s believed to be one of the largest judgments in a cannabis industry dispute, a Colorado appeals court has restored an $100 million award in a long-running dispute involving one of the state’s biggest chains of marijuana stores.
An arbitrator had awarded $140 million in 2022 to Josh Ginsberg and Rhett Jordan, two co-founders of retail chain Native Roots Cannabis.
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The cash was meant to settle a dispute triggered in 2017 when a third owner, Peter Knobel, and his company, Brightstar, attempted to sell Native Roots.
But two months after the arbitrator’s ruling, a Denver judge canceled the award because of a “legal error” with the decision and evidence of bias.
So, the plaintiffs appealed.
The upshot is that Ginsberg and
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