Altria shareholders grilled CEO Howard Willard at the company's annual shareholder meeting Thursday.Juul is under regulatory scrutiny and faces a number of lawsuits over teen e-cigarette use.Scott Mlyn | CNBCshareholders grilled CEO Howard Willard on his $12.8 billion bet on e-cigarette giant Juul at the company's annual shareholder meeting Thursday.
Analysts and investors worried Altria paid too much for its 35% stake in the company and very little say over its operations, especially with the e-cigarette giant facing regulatory scrutiny. Willard on Thursday defended the terms of the deal, saying the e-cigarette market wasn't growing much before Juul entered it. Altria's own MarkTen products hardly gained traction, prompting Altria to stop selling them in the fall before signing the deal with Juul.
"I'm very pleased for the opportunity to make the investment and believe it will pay dividends down the road," he told analysts.to join CNBC at our Healthy Returns Summit in New York City on May 21. Juul finds itself facing public and regulatory scrutiny from critics who say the company fueled a teen vaping "epidemic." A number of lawsuits accuse Juul of intentionally hooking teens on nicotine, the
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