$117M Settlement Of Altria Shareholders’ Claims Gets Judge’s Preliminary Approval

Mealey's (November 3, 2022, 9:01 AM EDT) -- RICHMOND, Va. — Two months after rejecting an earlier proposed settlement for the same dollar amount as “inadequate,” a Virginia federal judge granted an unopposed motion for preliminary approval of a $117 million settlement filed by shareholders in tobacco company Altria Group Inc. to resolve derivative claims that certain Altria officers and directors breached their fiduciary duty by orchestrating a $12.8 billion investment into Juul Labs Inc. (JLI)....