WeedWeek edition / December 09, 2020
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1 CHANGING OF THE GUARD IN SACRAMENTO

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The sun lights up glass on the downtown Sacramento Skyline

The new California legislature convened for the first time this week, bringing together the lawmakers who'll be enacting the state's pot laws for the next two years.

On Saturday, we'll introduce you to key lawmakers and lobbyists in Sac-town.

2 NEW FROM WEEDWEEK — 12/10/20

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Harborside founder Steve DeAngelo (Getty Images)

Harborside fires back at IRS

SCOOP: In a 35-page court filing, dispensary chain Harborside previewed arguments for its federal tax case against the IRS. The closely watched lawsuit, which goes before the Ninth Circuit Court of Appeals in February, challenges the constitutionality of industry hated tax rule 280E.  

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Cannabiz warily eyes SCOTUS texting case

The U.S. Supreme Court heard arguments in Facebook vs. Duguid, a case with major implications for text-message marketers, including many cannabis companies. Eaze and Curaleaf are among the potco's enmeshed in similar litigation, where damages can reach well into the hundreds of millions. 

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The joy of SPACs

Special purpose acquisition companies, the investment vehicle known as SPACs, are all the rage in the cannabiz, following that big deal by Subversive Capital. I talked to Ceres Acquisition Corp. CEO Joe Crouthers, a Goldman Sachs alum, who offered a quick, useful lesson on how SPACs work and discussed plans for the rival SPAC his firm is sponsoring.  

3 WHAT WE’RE READING — 12/10/20

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What caught our eye: