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MO.US
id: 522, Created by Stan Vick, Scout

Altria Group (MO) Juul Case

How it works?
  1. Company agreed to pay compensation to its investors, to avoid further litigation
  2. We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
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;
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
Lead plaintiff
Donald Sherbondy
Attorney
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
Total Settlement Amount
Created by Stan Vick, Scout

Case history

Stan Vick
07 September 2023
$MO Case-related News:
  • A California federal judge preliminary approved Juul investor Altria Group's $45M settlement ending consumers' class claims.
  • This deal is part of $MO larger $235M resolution to address state & federal litigation related to Juul.

Altria Group

Altria Group, Inc., through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; ci...

    Ticker
    MO.US
    ISIN
    US02209S1033
    CIK
    764180
    Sector
    Consumer Defensive
    Industry
    Tobacco
    Country
    USA
    Address
    6601 West Broad Street, Richmond, VA, United States, 23230