In 2019, Missouri passed legislation to allow various forms of medical marijuana business in the state. As a result of this legislation, a large number of businesses popped up almost overnight.
Some of these businesses solicited investments from ordinary investors to either start or continue their operations – or to survive while the state determined which companies were going to be granted various licenses and whether certain companies business practices would be allowed to continue.
In Missouri, companies and individuals are required to follow the Missouri Uniform Securities Act, as well as the federal securities laws, when raising money from investors. Unfortunately, in many instances, businesses and individuals do not follow those laws and: (1) solicit investment from individuals that should not be investing in startup type companies and/or (2) commit fraud by misstating key facts about the business or failing to disclose certain facts about the business.
The Kueser Law Firm represents clients who were investors in medical marijuana companies and who were not provided adequate disclosures or who were provided misinformation about the company. If you invested in a Missouri medical marijuana company and have concerns about your investment, please contact Jason Kueser at 816-374-5865 for a free consultation.