NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 2, 2019 to file lead plaintiff applications in a securities class action lawsuit against Altria Group, Inc. (NYSE: MO), if they purchased the Company's securities between December 20, 2018 and September 24, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased securities of Altria and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-mo/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 2, 2019.
About the Lawsuit
Altria and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 20, 2018, the Company announced a $12.8 billion investment in e-cigarette market-leader, JUUL Labs, Inc., equating to a 35% economic interest in JUUL. Following several weeks of increased public and regulatory scrutiny of e-vapor products, on September 25, 2019, Altria disclosed that discussions with Philip Morris over a $200 billion merger had ceased due to scrutiny of the vaping industry as well as the Company’s 35% stake in JUUL.
On this news, the price of Altria’s shares declined, damaging investors.
The case is Klein v. Altria Group, Inc., et al, 19-cv-5579.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
