Hemp-derived CBD companies increasingly face class-action claims by consumers and stockholders, driven by industry growth, product claims, regulatory uncertainties and preventable mistakes by the companies themselves. Companies can reduce their exposure by being more transparent and forthright when disclosing their financials, the potential of their products and other relevant information, legal experts say. A U.S.
Two similar federal lawsuits against PetSmart were voluntarily dismissed by plaintiffs who accused the company of selling hemp products for pets without approval from the U.S. Food and Drug Administration. The attorney representing the plaintiffs in both lawsuits filed paperwork Friday saying the parties were dropping their claims “without prejudice,” meaning they could be filed
In just two years, the number of specialty pet stores that carried Colorado-based Functional Remedies’ CBD products increased dramatically, going from 100 to 500 – underscoring the fast growth of a market that’s now reaching mass-market retailers like Petco and PetSmart. “More and more people are understanding how CBD and how hemp-based products can enhance