• November 22, 2024

Juul investment scrutinized

 Juul investment scrutinized

The U.S. Securities and Exchange Commission (SEC) is investigating whether Altria adequately disclosed the risks of its investment in Juul Labs to shareholders.

Altria spent $12.8 billion on a 35 percent stake in Juul Labs in December 2018, and Altria has recorded $8.6 billion in impairment charges since then, bringing its investment value to $4.2 billion.

The SEC issued subpoenas to Juul Labs, and the company has turned over correspondence documents as well as financial projections that were shared with Altria before the deal.