Jushi Accused Of Fighting Competition In Masssachusetts
It’s a classic David vs Goliath story
MJ’s Market Inc., a small, closely held Massachusetts corporation established in May 2018, is accusing Jushi Inc. (OTC: JUSHF) of fighting its efforts to open a dispensary in Tyngsborough, which would be its second store in the state.
According to Law360, the town decided to approve only two stores, and MJ’s Market wants one of them. One store, Nature’s Remedy, is already open – and was acquired by Jushi.
MJ’s Market says it wanted to offer local consumers an option for lower-priced products, but with Nature’s Remedy being the only dispensary in town, it can control prices. MJ’s Market also argues that the Tyngsborough market is roughly $35 million a year.
The MJ’s Market group said that it was going through the standard municipal approvals required, such as the Select Board, the Planning Board, the Zoning Board of Appeals, and the Conservation Commission. They accuse Jushi of filing sham petitions and objections with regard to the municipal approvals.
For example, the case states that Jushi argued there would be a traffic impact as a result of the dispensary, but didn’t actually provide a traffic impact study. The court filing also states that Nature’s Remedy did not have to provide a traffic impact study, which would suggest that there is no traffic issue for the location.
The court filing also states that after bringing up the traffic concerns, Jushi then applied for a distribution facility in the roughly same location, which would result in 3,500 vehicle trips a day. The town approved the facility in September 2022.
Another feature in the argument is that the town wanted the operations clustered in an area with a heavy police presence. A separate company called Royalty was originally approved for the second store but ultimately didn’t move forward, opening the way for MJ’s Market.
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