Philip Morris Investors Can't Revive Suit Over E-Cig Sales

By Mike LaSusa (September 21, 2020, 11:03 PM EDT) -- A New York federal judge on Monday shot down a request by Philip Morris International investors who had asked the court to reconsider its decision to toss a proposed class action that alleged the company lied about sales and regulation efforts for its flagship electronic cigarette.

U.S. District Judge Ronnie Abrams said the Philip Morris shareholders hadn't shown sufficient grounds for revising the judge's February dismissal of the suit, which had found Philip Morris didn't mislead shareholders with statements made in securities filings from 2015 to 2017.

"Contrary to plaintiffs' representation, these disclosures were far from 'boilerplate,'" Judge Abrams said. "They...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!