Juul Labs gets equity investment to pay $1.2 billion in settlements for contributing to America’s youth vaping epidemic.
s will pay $1.2 billion to settle roughly 10,000 lawsuits claiming the e-cigarette maker is a major contributor to the youth-vaping epidemic in the U.S., according to report by Bloomberg.
The pre-trial settlement was announced Tuesday and aims to resolve all personal-injury, class-action and school-district claims against Juul gathered before a federal judge in San Francisco, the report continued. "These settlements represent a major step toward strengthening Juul Labs’ operations and securing the company’s path forward to fulfill its mission to transition adult smokers away from combustible cigarettes while combating underage use," JUUL said in a statement released Tuesday.
Shopkeeper demonstrates smoking a Juul brand vaping pen to customers at a Juul shop in Jakarta, Indonesia, Dec. 30, 2019.
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