MPX NJ is suiting their parent company iAnthus over their license to operate their cultivation facility in New Jersey in Monmouth Superior Court.
MPX NJ Unhappy With iAnthus
While owned by iAnthus, MPX NJ seems to be bristling at the way iAnthus is doing business. They believe that iAnthus is operating under an agreement not approved by the NJ Department of Health (NJDOH). They tried to negotiate with a Pleasantville official on their behalf.
“These actions cannot stand, as they threaten MPX NJ’s ATC permit, expose it to liability from third parties, and tarnish its reputation, as well as that of its owners, across the cannabis industry,” the suit said.
They had established a cultivation facility in Pleasantville that was supposed to begin growing earlier this year. Before COVID, it was supposed to supply their dispensary “Be” in Atlantic City which was supposed to open in the spring.
MPX NJ wants to reassert that they were awarded the license, not iAnthus.
iAnthus has had a very tumultuous year. Its CEO Hadley Ford resigned under a dark cloud. His deputy Randy Maslow who had been part of the NJ Cannabis Industry Association (NJCIA) has taken over. The company found Ford had misappropriated funds from a loan from Gotham Green Partners for his own use.
New Jersey native MPX NJ CEO Beth Stavola later resigned from both companies.
Former Counsel to Governor Phil Murphy Matt Platkin and former Attorney General under Chris Christie Chris Porrino are serving as attorneys for the plaintiff.
At one point earlier this year, iAnthus needed a large loan to survive.
MPX NJ and iAnthus are both Multi-State Operators (MSOs).
Arguments in the court were supposed to be heard today. Judge Joseph Quinn is presiding over the case in civil court.