Judge Grants Preliminary Approval To $90M Settlement Of Altria Securities Lawsuit

Mealey's (December 20, 2021, 1:18 PM EST) -- RICHMOND, Va. — A Virginia federal judge on Dec. 16 granted preliminary approval to a $90 million proposed settlement between the lead plaintiffs in a securities class action against Altria Group Inc., e-cigarette maker Juul Labs Inc. and the companies’ executives in which shareholders said the defendants concealed the regulatory and legal risks associated with Juul’s alleged youth marketing when Altria acquired 35% of the company in December 2018....