Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 04/21/2020 (Date of last review)

Filing Date: October 02, 2019

According to the Complaint, Altria Group, Inc., through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. Altria offers, among other products and services, cigarettes, primarily under the Marlboro brand; cigars, principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands. The Company sells its tobacco products primarily to wholesalers, including distributors; large retail organizations, such as chain stores; and the armed services.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Altria had conducted insufficient due diligence into JUUL prior to the Company’s $12.8 billion investment, or 35% stake, in JUUL; (ii) Altria consequently failed to inform investors, or account for, material risks associated with JUUL’s products and marketing practices, and the true value of JUUL and its products; (iii) all of the foregoing, as well as mounting public scrutiny, negative publicity, and governmental pressure on e-vapor products and JUUL made it reasonably likely that Altria’s investment in JUUL would have a material negative impact on the Company’s reputation and operations; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On December 11, 2019, the Court issued an Order consolidating cases. On December 30, the Court issued an Order appointing Lead Plaintiffs and Counsel. On February 7, 2020, the case was transferred into the Eastern District of Virginia under Docket 20-CV-00075. Lead Plaintiffs filed a consolidated Complaint on April 21.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Tobacco
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MO
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 19-CV-05579
JUDGE: Hon. Joan M. Azrack
DATE FILED: 10/02/2019
CLASS PERIOD START: 12/20/2018
CLASS PERIOD END: 09/24/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: E.D. Virginia
DOCKET #: 20-CV-00075
JUDGE: Hon. Joan M. Azrack
DATE FILED: 04/21/2020
CLASS PERIOD START: 12/20/2018
CLASS PERIOD END: 02/21/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen Milstein Sellers & Toll PLLC (Washington DC)
  2. Pomerantz LLP (New York)
  3. Robbins Geller Rudman & Dowd LLP (Melville)
No Document Title Filing Date
—Related District Court Filings Data is not available