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Sills Cummis Unveils Regulated Substances Practice

Law360

April 14, 2015

As seen in this article, "A Sills Cummis & Gross P.C. member focused on venture capital and private equity deals is leading a new regulated substances practice at the Newark, New Jersey-headquartered firm to seize on emerging investment opportunities in legalized medical and recreational marijuana, the firm announced Tuesday.

Jeffrey L. Wasserman, who has been with Sills Cummis for about six years, said the firm wants to become a market leader in the practice and will look to help the investment community as well as East Coast businesses seeking investments as the regulatory environment for marijuana in New Jersey and New York continues to evolve.

The practice group will focus on transactional work, rather than lobbying, according to Wasserman, who said there's a true need for such services. Wasserman said that, about a week ago, he was engaged to handle a fund that will be between $10 million and $20 million and make venture and private equity investments in various types of businesses in the cannabis industry. The response from others in his network has been 'very positive,' Wasserman added.

Besides Wasserman, the practice will include Sills member George R. Hirsch, who is part of the firm's litigation and bankruptcy groups, and associate John Weldon from the firm's corporate practice group. But Wasserman stressed that clients will be able to take advantage of the regional powerhouse's reach and breadth.

'Having 130 lawyers at a full-service shop really brings to bear a unique opportunity for investors and businesses alike,' Wasserman said."