Tobacco company Altria Group Inc. MO said Wednesday it reached a settlement with the majority of lawsuits from Juul users. The company said it reached terms to settle 6,000 state and federal Juul-related cases for $235 million, and will report it as a one-time charge in the second quarter.
The company said it reached terms to settle 6,000 state and federal Juul-related cases for $235 million, and will report it as a one-time charge in the second quarter. “While we continue to believe the claims against us are meritless, we believe this settlement avoids the uncertainty and expense of a protracted legal process and is in the best interest of our shareholders,” said Murray Garnick, Altria’s general counsel, in a statement.
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