Rosen announces filing of securities class action lawsuit against altria group, inc

Rosen law firm announced the filing of a class action lawsuit on behalf of purchasers of the securities of altria group, inc. from december 20, 2018 through september 24, 2019, inclusive (class period). the lawsuit seeks to recover damages for altria investors under the federal securities laws. according to the lawsuit, defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: altria had conducted insufficient due diligence into juul prior to the company’s $12.8 billion investment, or 35% stake, in juul; altria consequently failed to inform investors, or account for, material risks associated with juul’s products and marketing practices, and the true value of juul and its products; all of the foregoing, as well as mounting public scrutiny, negative publicity, and governmental pressure on e-vapor products and juul made it reasonably likely that altria’s investment in juul would have a material negative impact on the company’s reputation and operations; and as a result, altria’s public statements were materially false and misleading at all relevant times. when the true details entered the market, the lawsuit claims that investors suffered damages.
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