April 14, 2015
Sills Cummis & Gross
has launched a Venture Capital/Regulated Substances
Practice, building on the Firm’s strong transactional practice. Jeffrey L. Wasserman, a Member of the Firm’s
Corporate Department, who focuses on venture capital and private equity deals,
is leading the new group, assisted by Associate John Weldon.
Wasserman stated: “We are
already representing clients investing in the legal cannabis-related
marketplace and believe now is a great time to launch this practice, given the
explosion of various states around the U.S. authorizing the use of legalized medical
and recreational cannabis. While New
Jersey is discussing the issue, current corporate and institutional clients are
looking for legal counsel to prepare them for current and future investment
opportunities in New Jersey, New York and the rest of the East Coast.”
The newly formed Practice
is designed to assist clients in managing the risks and opportunities in the
rapidly evolving legal medical and recreational cannabis market.
PLEASE BE MINDFUL THAT POSSESSING, USING, DISTRIBUTING
AND/OR SELLING MARIJUANA IS A FEDERAL CRIME, AND NO LEGAL ADVICE WE GIVE IS
INTENDED TO PROVIDE ANY GUIDANCE OR ASSISTANCE IN VIOLATING FEDERAL LAW NOR
WILL IT PROVIDE ANY GUIDANCE OR ASSISTANCE IN COMPLYING WITH FEDERAL LAW.
PLEASE ALSO NOTE THAT WE ARE NOT
ADVISING YOU REGARDING THE FEDERAL, STATE OR LOCAL TAX CONSEQUENCES OF ENGAGING
IN ANY BUSINESS IN THIS INDUSTRY.