https://www.wsj.com/articles/juul-reaches-settlement-of-over-5-000-lawsuits-11670374226
Juul Reaches Settlement of Over 5,000 Lawsuits
Deal resolves much of legal uncertainty around e-cigarette company
In 2017, Juul catapulted to the top of the e-cigarette market. But the company's valuation fell just as quickly, as a series of crises led to hundreds of lawsuits alleging that the company marketed its products to teens. Photo Illustration: Jacob Reynolds/WSJ
By Jennifer Maloney
Updated Dec. 6, 2022 8:49 pm ET
Juul Labs Inc. reached a sweeping legal settlement Tuesday covering more than 5,000 lawsuits and about 10,000 individual plaintiffs, resolving much of the legal uncertainty that had pushed the e-cigarette company to the brink of bankruptcy.
Juul said Tuesday that it had secured an equity investment to cover the cost of the settlement. Financial terms weren't disclosed. Juul has been in talks with early investors including two of its longtime board members, Hyatt Hotels heir Nick Pritzker and California investor Riaz Valani, to fund a bailout that would cover legal liabilities, The Wall Street Journal previously reported.
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