Altria Group Inc. said Wednesday that it will pay $235 million to settle at least 6,000 lawsuits accusing it of fueling a teen vaping epidemic through its former investment in e-cigarette maker Juul Labs Inc., Reuters reported. The deal ends nearly all of the litigation brought against the tobacco giant over Juul by local government bodies and individuals across the U.S. It came shortly after San Francisco's public school district finished presenting its case against the company in a jury trial, which will now be cut short. Sarah London, one of the lead attorneys for plaintiffs in the litigation, in a statement said the deal would "provide extraordinary and truly meaningful relief for youth, parents and governmental organizations nationwide." Altria expects to record a pre-tax charge of $235 million in the second quarter of 2023 and intends to exclude it from adjusted earnings per share.
