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Green Thumb Industries Inc. (OTCQX:GTBIF) is hitting back at the Chicago Tribune after a March 29, 2021, article said the cannabis company is being looked at by federal investigators as part in a pay-to-play licensing scandal.
In the article, the Tribune reported that federal investigators are eyeing campaign donations and other efforts by Green Thumb as it vied for licensing in Illinois and other states. The newspaper cited unnamed sources.
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GTI Denies Report: GTI said it first learned of the alleged probe when contacted by a Tribune reporter.
The reporter cited unnamed sources, the company said, adding that the feds have not contacted GTI.
"The reporter did not cite any credible sources nor evidence, and published under a salacious front page headline intended to mislead," CEO Ben Kovler said in a statement.
The report was "irresponsible journalism" and "reckless behavior" that impacts GTI employees' lives, he said.
Pushing back on the licensing allegations, Kovler said GTI "secured licenses through competitive state-run programs and traditional M&A transactions."
GTI is requesting that the Tribune retract the story.
GTBIF Price Action: Green Thumb shares gained 16.37% Wednesday, closing at $29.50.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.