Altria Can't Snub Out Fraud Claims Over Juul Investment
By Dean Seal (March 12, 2021, 11:40 PM EST) -- A Virginia federal judge on Friday shot down a bid to dismiss allegations that tobacco giant Altria Group Inc. knew Juul Labs Inc. was marketing to underage consumers but stayed mum about it when it invested billions in the nascent vaping company.
U.S. District Judge David J. Novak found that a putative class of Altria investors had alleged "an abundance of facts showing that" Juul targeted youth and "sufficient facts" demonstrating that Altria and Juul knew of the marketing scheme and the risks it posed to each company after Altria bought a 35% stake in Juul in December 2018 for $12.8...
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