• May 19, 2024

Altria, Juul Likely to Face Suit Over Deal

 Altria, Juul Likely to Face Suit Over Deal
Photo: jessica45 | Pixabay

Altria Group and Juul Labs will likely face a proposed antitrust action seeking to unwind a $12.8 billion deal that gave the tobacco giant a 35 percent stake in the vapor company, reports Bloomberg Law, citing a “tentative” ruling by a federal judge in San Francisco.

Judge William H. Orrick indicated Wednesday that he’s inclined to let most of the lawsuit move forward in the U.S. District Court for the Northern District of California, where it was consolidated after dozens of antitrust plaintiffs sued over deal clauses calling for Altria’s exit from the vaping market.

The Federal Trade Commission has also sued over the Altria-Juul transaction.