Altria takes another $4bn hit on Juul investment
‘It’s a major black eye for the management’
30 January 2020 - 20:09
Bengaluru — Altria Group took another $4bn charge on its investment in Juul Labs and said on Thursday it had reworked its deal terms with the embattled e-cigarette maker, which is facing increased regulatory scrutiny amid a backlash against vaping.
The Marlboro maker said the fourth-quarter charge was mainly due to the increased number of legal cases pending against Juul and the expectation that the number would continue to grow...
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