Illinois Cannabis Companies Face Alleged Antitrust Violation Regarding Interlocking Boards

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By Wendy Arends, Mark Tobey & Julia Banegas April 28, 2022 A group of Illinois cannabis companies face an antitrust lawsuit alleging that they maintained illegal interlocking directorates. The Illinois Complaint and DOJ’s recent announcement should factor into a company’s selection of its board of directors and officers. In June 2021, DOJ announced that Endeavor Group executives were resigning from the Live Nation Board of Directors as part of a settlement of an alleged illegal interlocking directorate. Wendy Arends Wendy navigates complex antitrust and competition issues that arise during mergers, acquisitions and collaborations between competitors in a variety of industries. A seasoned attorney, Wendy understands and enjoys handling complex antitrust and competition issues.

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By Wendy ArendsMark Tobey & Julia Banegas

April 28, 2022

A group of Illinois cannabis companies face an antitrust lawsuit alleging that they maintained illegal interlocking directorates. An interlocking directorate is where a person from one company serves as an officer or director at a competing company in violation of Section 8 of the Clayton Act. On April 18, 2022, a plaintiff named True Social Equity in Cannabis, an association of consumers,...

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