Hemp growers who allegedly didn’t get paid hundreds of thousands of dollars for contracts with an Owensboro hemp company have filed a class-action lawsuit against the company alleging breach of contract, fraud, and racketeering, among other claims.
A $69 million lawsuit over control of Owensboro-based hemp processing company Bluegrass Bioextracts has been settled amid controversy surrounding the company not paying out potentially hundreds of thousands of dollars in contracts to hemp farmers.
The year: 2009. A Senator from Illinois named Barack Obama has just made history upon taking the presidential oath of office. The national economy is at a low point in the Great Recession. And the Pittsburgh Steelers are the first NFL team to win six Super Bowls.
An association representing Kentucky’s growing hemp industry held a conference in Murray on Thursday to gather hemp farmers, processors, and regulators. The event also highlighted the continuing financial and regulatory uncertainty in the new industry.
The U.S. Food and Drug Administration sent out 15 letters last week warning some companies that sell cannabidiol, or CBD, about making unfounded medical claims regarding the effects of the hemp-derived compound. Many users claim CBD has a wide range of medicinal benefits but there is little evidence. Despite this warning, the burgeoning industry in the Ohio Valley continues to boom.