BENSALEM, Pa.–(BUSINESS WIRE)–$MO–Law Offices of Howard G. Smith announces an investigation on behalf of Altria Group, Inc. (“Altria” or the “Company”) (NYSE: MO) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 20, 2018, Altria acquired a 35% stake in investment in JUUL Labs, Inc. (“JUUL”), the purported U.S. leader in electronic vapor products, including e-cigarettes.
On April 3, 2019, the U.S. Food and Drug Administration (“FDA”) announced its investigation into nearly three dozen cases of people suffering from seizures after vaping.
On this news, the Company’s stock price fell $2.71, or nearly 5%, to close at $53.98 per share on April 3, 2019, thereby injuring investors.
Then, on August 29, 2019, The Wall Street Journal reported that the U.S. Federal Trade Commission (“FTC”) was investigating whether JUUL used influencers and other marketing practices to appeal e-cigarettes to minors.
On this news, the Company’s stock price fell $1.60, or over 3%, to close at $44.25 per share on August 29, 2019, thereby injuring investors further.
Then, on September 25, 2019, Altria announced that Philip Morris International had called off discussions of a $200 billion merger with Altria due to scrutiny of the vaping industry and the Company’s 35% stake in market leader JUUL.
On this news, the Company’s stock price fell an additional $0.17 per share, or 0.42%, to close at $40.56 per share on September 25, 2019, thereby injuring investors further.
If you purchased Altria securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
