Board Battle Over NY Cannabis License Leads to Antitrust Lawsuit

A ScottsMiracle-Gro Co. unit backing a major cannabis company sued a co-investor, claiming he’s trying to undermine the business—including by waging a board battle and a court fight in Canada—because of his larger stake in a rival company competing for a New York cannabis license.

The federal antitrust lawsuit targets JW Asset Management LLC, TerrAscend Corp., and Jason Wild, who allegedly runs both of them. It accuses Wild of exploiting JWAM’s 20% ownership of RIV Capital Inc. to try to derail its acquisition of Etain LLC, a women-led company that’s one of just 10 given a cannabis license in the ...