Pomerantz Defeats Motion to Dismiss in Altria Securities Class Action

On March 12, 2021, in Klein v. Altria Group, Inc. et al (3:20-cv-00075-DJNVAED), U.S. District Judge David J. Novak in the Eastern District of Virginia denied Altria Group, Inc.’s (“Altria”) and JUUL Labs, Inc’s (“JUUL”) motions to dismiss the plaintiffs’ complaint. The complaint alleges Exchange Act violations against JUUL, Altria and certain officers of each arising from Altria’s investment in JUUL and the failure to disclose their marketing of highly addictive nicotine products to kids…