MedMen co-founders Adam Bierman and Andrew Modlin have stepped down from the company’s board of directors, according to a June 17 announcement.
Bierman had previously served as a board member, while Modlin served as an observer to the board.
Modlin’s employment agreement with MedMen had already expired last month, according to the announcement.
MedMen also announced June 17 that it has reached a settlement in litigation between MMMG-MC Inc. (BVI), Brent Cox, Omar Mangalji, et al. and various parties in a lawsuit originally filed in Los Angeles Superior Court in January 2019. MedMen denies any wrongdoing, but “believes its contribution to the settlement is in the best interest of its shareholders,” according to the announcement.
MedMen also recently lost its medical cannabis dispensary license in Virginia after the Board of Pharmacy voted to deny the company’s request for an extension and rescinded its conditional license for a retail outlet in Staunton, according to a News Leader report.
