Sign In
MO.US
id: 522

Altria Group (MO) Juul Case

E.D. Virginia
Court
3:20-cv-00075
Case number
20 Dec 2018
Class period Start
21 Feb 2020
Class period End
05 Apr 2022
Claim deadline
Altria Group (MO) agreed to pay up to $117 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
  • Altria had conducted insufficient due diligence into JUUL prior to the Company’s $12.8 billion investment, or 35% stake, in JUUL;
  • Altria consequently failed to inform investors or account for material risks associated with JUUL’s products and marketing practices, and the true value of JUUL and its products;
  • all of the foregoing, as well as mounting public scrutiny, negative publicity, and governmental pressure on e-vapor products and JUUL made it reasonably likely that Altria’s investment in JUUL would have a material negative impact on the Company’s reputation and operations;
Case Status
Disbursed
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Investment Bank
Security Type
Stocks
Trade Direction
Long
Filing date
02 October 2019
Plaintiffs
Donald Sherbondy
Attorneys
Cohen Milstein Sellers & Toll PLLC (Washington, DC), Pomerantz LLP (New York, NY), Robbins Geller Rudman & Dowd LLP (Melville, NY)
Defendants
Howard A. Willard III, William F. Gifford, Jr., Adam Bowen, James Monsees, Kevin Burns, and K.C. Crosthwaite
Judge
Hon. Joan M. Azrack
Administrator
EPIQ
Court hearing date
31 March 2022
Exclusion deadline
10 March 2022
Objection deadline
10 March 2022
Hearing deadline
31 March 2022
Trades matching type
FIFO
+$117,000,000
Cash Settlement Amount