Richmond, Virginia-based, Altria was a traditional cigarette company. They signed a $12.8-billion agreement with JUUL Labs in 2018. The firm claimed at the time they believe that vaping is the best alternative to regular tobacco products.
Altria remains Juul’s largest stakeholder with 35% of the company. They invested $13 million in 2022. And released a statement that said, “At this time, we continue to believe that these investment rights are beneficial to us.”
Electronic cigarette maker Juul Labs has agreed to pay nearly $440 million to settle a multi-state investigation into its vaping products, which have long been blamed for sparking a national surge in teen vaping. https://t.co/PmJW0P01QE pic.twitter.com/Bn1SQQnxJj
— The Associated Press (@AP) September 7, 2022
Lawsuits, Investigations and Teen vaping
Juul Labs settled a class action lawsuit after 33 states and Puerto Rico launched a two-year investigation. The effort was led by Connecticut Attorney General William Tong who ordered JUUL to pay nearly $440 million.
The lawsuit contended the company was marketing high-nicotine vaping products to teens. And the targeted marketing was to blame for an increase in teen vaping.
Juul Labs still faces at least nine separate lawsuits from other states. And hundreds of private lawsuits filed on behalf of both teens and adults who claim to be addicted to the vaping products manufactured by the firm.
