Potpourri Double Play: The Drying of the World and the Cannabis Industry Gold Rush

Buzz ThompsonJaimie Nawaday
February 23, 2023


In this installment of our Double Play series, our two, thirty-minute programs cover The Drying of the World and the Cannabis Industry Gold Rush. What would your company do if it ran out of water? For many reasons -- including climate change and population growth -- this is not merely a hypothetical but a real risk that your company needs to assess and manage. This program provides the guidance you need to evaluate and address the water risks your company faces while suggesting ways your company may be able to transform water risks into business opportunities. In the United States, cannabis is growing faster than any other industry and is expected to generate over $20 billion by 2020. But investing in cannabis, or doing business with companies involved in cannabis production or distribution, comes with substantial legal and other risks. This program offers practical advice to avoid the most common pitfalls when companies choose to invest in cannabis or do business with companies in that industry.


Buzz Thompson, Of Counsel, O’Melveny & Myers LLP, Silicon Valley, CA

Jaimie Nawaday, Partner, Kelley Drye & Warren LLP, New York, NY

Buzz is an of counsel in O’Melveny’s Silicon Valley office and a member of the Water Industry Practice Group. He is the Robert E. Paradise Professor of Natural Resources Law at Stanford Law School, the Perry L. McCarty Director and Senior Fellow of the Woods Institute for the Environment, and Senior Fellow (by courtesy) at the Freeman-Spogli Institute for International Studies. The author of several books on water law and policy, he is one of the nation’s leading experts on water issues. He has advised clients on water law issues for decades, developed innovative legal strategies for best exploiting water resources and, in 2008, the U.S. Supreme Court appointed Buzz to serve as the special master in Montana v. Wyoming (137 Original).

Jaimie focuses her practice on government investigations, white collar defense and civil litigation. She advises and represents organizations and individuals in government investigations relating to potential violations of federal criminal law, the False Claims Act, and asset forfeiture matters. She has also repeatedly appeared on MSNBC to explain and comment on developing issues in federal criminal law. As an Assistant United States Attorney in the Southern District of New York (SDNY) for seven years, Jaimie served in both the Civil and Criminal Divisions and successfully handled both civil and criminal jury trials. Jaimie’s broad experience in handling large, complex cases gives her a unique perspective in guiding clients through government investigations and high stakes litigation. She uses that experience to steer companies through a range of issues that accompany challenging investigations, including parallel inquiries from regulators and press coverage. She also represents companies operating in the state-legal cannabis market both on compliance issues and in law enforcement or regulator inquiries. As a member of the Civil Division’s Civil Fraud Unit, Jaimie spearheaded significant fraud cases, notably, the Bank of America fraud trial, the first case the Department of Justice tried under FIRREA and the first trial by the Department of Justice against a major financial institution in the wake of the 2008 financial crisis. In 2015, Jaimie received the Attorney General’s Distinguished Service Award in connection with negotiating a global settlement of federal and state civil fraud actions.

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