Juul Founders, Board Members Accused Of Diluting Shares For Personal Profit

( October 4, 2024, 8:15 AM EDT) -- WILMINGTON, Del. — Two Juul Labs Inc. (JLI) stockholders in a derivative complaint filed in Delaware Chancery Court accuse JLI’s co-founders, members of its board of directors and their special investment vehicles of breach of fiduciary duty and unjust enrichment for allegedly orchestrating the dilution of the value of JLI shares before giving their investment vehicles 1.2 billion JLI shares at little cost in an alleged “windfall.”...