Initial Approval Of $90M Settlement Sought In Altria Securities Class Action

Mealey's (December 14, 2021, 1:52 PM EST) -- RICHMOND, Va. — Lead plaintiffs in a securities class action against Altria Group Inc., e-cigarette maker Juul Labs Inc. and the companies’ executives asked a federal judge in Virginia on Dec. 9 to grant preliminary approval to a $90 million proposed settlement that would bring an end to shareholder claims alleging that the defendants concealed the regulatory and legal risks associated with Juul’s alleged youth marketing when Altria acquired 35 percent of the company in December 2018....