Clint Eastwood Sues CBD Companies

LOS ANGELES - Aug. 4, 2020 - PRLog -- In California, #Clint Eastwood files two lawsuits in a federal Los Angeles court, against more than a dozen #CBD companies over false endorsement claims. The #legal action comes in response to fraudulent #online news articles featuring a fabricated interview in which the 90-year-old actor and director promotes his alleged line of CBD products. The lawsuits target 20 different companies in states such as Arizona and Florida, but could expand to include up to 80 more CBD businesses. One of those companies, Sera Labs, is blaming the fake endorsement on a third-party advertising firm, and says they shut down the ads immediately after learning of them. According to Eastwood's lawyers, the #celebrity does not, and has never had, any connection to the CBD industry.

In #finance, multistate operator Red White and Bloom announces two #acquisitions as part of their expansion plans focused on the largest and fastest-growing state cannabis markets in the US The Toronto-based company, formerly known as Tidal Royalty Corp, revealed it will exercise the option to take over investee PharmaCo in an effort to broaden cultivation capacity in Michigan. This follows their announcement of an agreement to purchase prominent product manufacturer #Platinum Vape for 35 million dollars in cash, which will not only mark the company's entry into California, but also their first planned acquisition since going #public in June. Recently, Red White and Bloom struck a high-profile dispensary and product #branding deal with High Times Holding Corp., which is expected to aid in their focused future expansion to #Florida.

In #Canada, private sector cannabis delivery and curbside pickup services expire along with the province's # COVID-19 emergency order. The Ministry of the #Attorney General confirmed the ending of the temporary regulation, as dispensaries are permitted to reopen with social distancing practices in place. According to the province's Chamber of Commerce, the elimination of those services for the approximately 100 stores impacted will result in an estimated loss of 180 million dollars, and could affect up to 2,500 jobs.

#Overseas, the # UK's government-funded National Health Service plans to manufacture CBD oil for use in clinical trials, to determine its effectiveness in treating seizures associated with epilepsy. Though the country legalized medical cannabis in 2018, only one medication, GW Pharmaceuticals' #Epidyolex, has been approved to treat the condition. The NHS has yet to prescribe it, however, due to high costs and inexperience of healthcare workers with cannabis-based medicines. Some speculate Britain's shift toward nationalized CBD oil #production could indicate efforts to improve patient access. The #clinical trials are set to begin early next year.

Written by Jacqui Verdura

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