SEC Hits Another Marijuana Company Over Alleged Sham Earnings

The nascent legalized marijuana industry has never been easy for regulators, forcing difficult decisions over how to enforce federal laws in states that have cleared cannabis for medical and—in some cases—recreational use. But the U.S. Securities and Exchange Commission has a decidedly simpler calculation: If a marijuana company misleads investors, it's as ripe an enforcement target as another firm.

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SEC Hits Another Marijuana Company Over Alleged Sham Earnings

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