Altria Says FTC Misunderstands Regs In Defense Of Juul Deal
Law360 (July 29, 2020, 9:09 PM EDT) -- In a rebuttal to a Federal Trade Commission antitrust complaint against its $12.8 billion investment in electronic cigarette company Juul Labs Inc., tobacco manufacturer Altria Group Inc. claimed the FTC has a "fundamental misunderstanding" of the regulatory framework in which the two companies operate.
Contrary to the April FTC complaint alleging that Altria shut down its own e-cigarette business to pave the way for the investment, in the process eliminating competition in violation of antitrust laws, the tobacco industry giant argued on Monday that its e-cigarette business was actually a "failure" and presented no competition to Juul.
"Far from being a 'threat...
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