SEC Looking Into Altria’s Investment in JUUL

According to a report from Reuters, U.S. regulators have opened a probe that is examining Altria Group’s investment in e-cigarette manufacturer JUUL Labs.
The U.S. Securities and Exchange (SEC) Commission is investigating whether Altria Group adequately disclosed the risks to its shareholders when it announced its $12.8 billion investment for a 35 percent stake in the e-cigarette manufacturer back in December 2018 [read more here]. The SEC has issued subpoenas to JUUL, which the company has already responded to, according to reports. JUUL has already submitted documents including correspondence with Altria and financial projections JUUL shared with Altria before the deal, a source told Reuters.

Continue Reading On: Tobacco Business Magazine