LOS ANGELES--(BUSINESS WIRE)--Oct. 3, 2019--
Glancy Prongay & Murray LLP (“GPM”) 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.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
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 Journalreported 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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Source: Glancy Prongay & Murray LLP
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F. Portnoy, 310-201-9150 or 888-773-9224