Riddled with lawsuits, the electronic cigarette maker Juul announced hundreds of layoffs last month as bankruptcy appears increasingly likely.
‘You've Got Me for Six More Years': Raphael Warnock Defeats Trump-Backed Challenger Herschel Walker in Georgia Senate Runoff
That same month the company’s largest investor, tobacco giant Altria, announced plans to resume competing on its own in the e-cigarette space. Altria pulled its own e-cigarettes off the market in 2018 after taking a nearly $13 billion stake in Juul. But that investment has lost more than 95% of its value as Juul’s prospects have dimmed, giving Altria the option to exit its non-compete agreement.
That means Juul could soon be forced to battle for space on retail shelves with Marlboro-maker Altria, along with longstanding competitors like Reynolds American’s Vuse, which recently edged past Juul to become the leading U.S. vaping brand. Juul has also settled with 37 states and territories over the last year and said it’s in ongoing talks with other key stakeholders to resolve remaining litigation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Juul settles more than 5,000 lawsuitsJuul Labs announced Tuesday that it has reached a settlement on more than 5,000 cases involving about 10,000 plaintiffs.
Read more »
JUUL settles, Toll Brothers results, Stitch Fix loss and more: Wednesday's 5 things to knowThe e-cigarette industry will be watching reaction to JUUL settling thousands of lawsuits, along with reaction to Toll Brothers earnings.
Read more »
E-cigarette company Juul settles over 5,000 lawsuitsElectronic cigarette company Juul announced Tuesday that it has settled more than 5,000 lawsuits for an undisclosed amount.
Read more »
Tech firms plan thousands more Bay Area job cuts: Facebook, Amazon, JuulTech companies are eyeing layoffs that will eliminate jobs for thousands more workers in the Bay Area in a brutal new round of terminations.
Read more »
Munro MK_1 EV, 2024 Mercedes-AMG S63 Hybrid, And Acura Integra Type S: Your Morning Brief | CarscoopsMunro MK_1 EV, 2024 Mercedes-AMG S63 Hybrid, And Acura Integra Type S: Your Morning Brief | Carscoops carscoops
Read more »
E-cigarette maker Juul reaches settlement with nearly 10,000 plaintiffsE-cigarette maker Juul Labs on Tuesday said it has reached settlements with about 10,000 plaintiffs covering more than 5,000 cases in California.
Read more »