FTC Sues Altria to Force Unwinding of Its $12.8 Billion Juul Investment
Altria (NYSE: MO) is being sued by the Federal Trade Commission for its $12.8 billion investment in Juul Labs in 2018 because it supposedly violates antitrust laws.
The regulatory agency wants the tobacco giant to sell its 35% stake in the leading e-cig manufacturer because its actions amounted to a "restraint of trade" in a violation of the Sherman Act and FTC Act, and reduced competition under the Clayton Act.
Altria disputes the charge saying "the FTC misunderstood the facts" and that it is prepared to vigorously defend itself against the suit.
Source Fool.com