Judge Delays $117M Settlement Of Altria Shareholder Suit After Objections Filed

Mealey's ( January 9, 2023, 10:14 AM EST) -- RICHMOND, Va. — A Virginia federal judge who preliminarily approved a $117 million settlement of shareholder claims against tobacco company Altria Group Inc. for harming the company by investing in Juul Labs Inc. (JLI) ordered the parties to file briefs responding to objections from nonparty shareholders including two health groups that say the settlement is “ineffective” and allows “individual Altria Defendants who caused the Company significant damage [to] get off scot-free.”...