Vice Chancellor Grants TRO Barring Juul’s Planned Debt Conversion

(November 10, 2023, 11:50 AM EST) -- WILMINGTON, Del. — The Delaware Chancery Court on Nov. 9 unsealed a vice chancellor’s order granting a temporary restraining order (TRO) sought by a group of financial entities that own $1.9 billion worth of notes issued by e-cigarette maker Juul Labs Inc. (JLI) and granted the noteholders’ motion to expedite their suit seeking to stop JLI from converting debt into equity “worth a fraction of its value,” allegedly as part of a plan by “certain JUUL insiders to plunder the Company for their own benefit.”...