Advertisement
Canada markets closed

  • S&P/TSX

    22,308.93
    -66.90 (-0.30%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • DOW

    39,512.84
    +125.08 (+0.32%)
     

  • CAD/USD

    0.7317
    +0.0006 (+0.08%)
     

  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     

  • Bitcoin CAD

    83,258.84
    -2,599.66 (-3.03%)
     

  • CMC Crypto 200

    1,264.02
    -93.98 (-6.92%)
     

  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     

  • RUSSELL 2000

    2,059.78
    -13.85 (-0.67%)
     

  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     

  • NASDAQ

    16,340.87
    -5.40 (-0.03%)
     

  • VOLATILITY

    12.55
    -0.14 (-1.10%)
     

  • FTSE

    8,433.76
    +52.41 (+0.63%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • CAD/EUR

    0.6789
    +0.0011 (+0.16%)
     
MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

SHAREHOLDER ALERT: The Law Offices of Timothy L. Miles Announces Altria Group, Inc. (MO) Sued for Misleading Shareholders; Altra Shareholders Urged to Contact the Firm

ACCESSWIRE

HENDERSONVILLE, TN / ACCESSWIRE / October 16, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Altria Group, Inc. (MO) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between December 20, 2018 and September 24, 2019. Altria Group manufactures and sells cigarettes, smokeless products, and wine.

Altria Group, Inc. (MO) Fails to Inform Investors of Investment Risks

According to the complaint, in December 2018, Altria announced that it had invested $12.8 billion for a 35% economic stake in JUUL Labs, Inc. ("JUUL"), a leader in electronic vapor products. Touting the benefits of the investment, Altria neglected to conduct sufficient due diligence prior to this decision, and therefore failed to foresee the potential risks of public scrutiny and government regulatory pressure of JUUL's products. These risks were realized beginning April 3, 2019, when the FDA announced its investigation into nearly three dozen cases of people suffering from seizures after consuming the e-vapor products through inhalation. Then, on August 30, 2019, the FDA and the Centers for Disease Control and Prevention announced they were collaborating to investigate the use of e-cigarette products. Following these investigations, on September 11, 2019, multiple news sources reported that the Trump administration was preparing a ban on e-cigarette products. Since then, several states have announced their decision to restrict e-cigarette use and California began conducting a criminal probe into JUUL. As a result of this scrutiny, Phillip Morris called off the potential $200 billion merger with Altria. On April 3, 2019, when investigations began, Altria's stock closed at $52.14. The stock currently trades at around $43.43 per share, representing a 17% decline in value.

ADVERTISEMENT

Altria Shareholders Urged to Contact the Firm

If you purchased Altria securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-738, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recently selected as a 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM and maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Distinguished Lawyer, Recognizing Excellence in Securities Law, Lawyers of Distinction (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo).

Contact:

Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com

SOURCE: The Law Offices of Timothy L. Miles



View source version on accesswire.com:
https://www.accesswire.com/563184/SHAREHOLDER-ALERT-The-Law-Offices-of-Timothy-L-Miles-Announces-Altria-Group-Inc-MO-Sued-for-Misleading-Shareholders-Altra-Shareholders-Urged-to-Contact-the-Firm