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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 2, 2019 to file lead plaintiff applications in a securities class action lawsuit against Altria Group, Inc. (NYSE: MO).
Altria and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 20, 2018, the Company announced a $12.8 billion investment in e-cigarette market-leader, JUUL Labs, Inc., equating to a 35% economic interest in JUUL. Following several weeks of increased public and regulatory scrutiny of e-vapor products, on September 25, 2019, Altria disclosed that discussions with Philip Morris over a $200 billion merger had ceased due to scrutiny of the vaping industry as well as the Company’s 35% stake in JUUL.
On this news, the price of Altria’s shares declined, damaging investors.
If you purchased securities of Altria and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Klein v. Altria Group, Inc., et al., 19-cv-5579. Click here to read the case complaint.