Dan Schnurman and Townsend Ziebold have joined Cowen’s investment banking team as Managing Directors. 
The legal marijuana market—both medicinal and recreational— has gotten much more complicated just as numerous additional states are officially allowing for the recreational use of cannabis. U.S. Attorney General Jefferson Session signed a memo on Thursday rescinded past guidance on enforcement of Federal marijuana laws that conflict with State laws that allow for the use cannabis.

“We’ve been criticized for allowing the holding to grow so large, but our feeling before the crisis erupted was that Valeant was executing well on its business model.”