Juul is caught in a cat-and-mouse game with two cheeky entrepreneurs from New Jersey who appear to have gone to extreme lengths to keep their millions from the vaping powerhouse — risking possible criminal penalties in the process, The Post has learned.
E-cigarette maker JUUL Labs Inc. is planning a new round of layoffs and considering halting sales across Europe and Asia, according to an email to staff from CEO K.C. Crosthwaite Wednesday obtained by FOX Business.
“We will continue to follow the PMTA process and look forward to this next step as the FDA commences substantive review of the application,” said Juul Labs Chief Regulatory Officer Joe Murillo in a statement.
Lawmakers once again urged the FDA to pull e-cigarettes from the market amid the coronavirus pandemic, claiming teen and young adult vapers are putting an outsized burden on testing resources.
The company provided scientific data from over 110 studies.
The 56-year-old’s exit comes amid pressure from investors over the Juul investment and weeks after the U.S. government filed an antitrust suit against Altria to unwind the deal.
Altria Group Inc owns a 35 percent stake in e-cigarette company Juul and is the parent company of Philip Morris USA, which makes Marlboro cigarettes.
So far nine states have filed lawsuits against Juul and more may come in the wake of the 39-state investigation, which also is examining whether the company made misleading claims about the nicotine content in its devices.
Texas AG Ken Paxton is leading a bilateral, 39-state investigation into Juul's marketing practices.
Attorneys general from Connecticut, Florida, Nevada, Oregon and Texas said they will lead the multi-state investigation into San Francisco-based Juul.
A total of 2,758 people have been hospitalized or have died due to a vaping- and THC-related lung illness.
All vaping manufacturers must submit their vaping products for Food and Drug Administration review by May 12.
Securities regulators have opened a probe related to Altria Group Inc.'s investment in controversial e-cigarette startup Juul Labs Inc.
Vaping product maker Juul Labs is being sued by the state of Massachusetts for allegedly gearing marketing campaigns toward minors, which included the purchase of advertising space on the websites of Nickelodeon, Seventeen magazine and Cartoon Network.
The Pennsylvania attorney general's office sued electronic cigarette manufacturer Juul Labs Inc. on Monday over how its products are marketed and sold to teenagers.
Fruit, candy, mint and dessert flavors from small, cartridge-based e-cigarettes are prohibited, but the partial ban, which took effect Thursday, exempts menthol and tobacco flavors.
Altria posted a fourth-quarter loss of $1.8 billion compared to a profit of $1.3 billion the prior year.
The FTC was expected to make a decision regarding the investment by early January.
2019 has seen the most CEO departures since 2002.
Illinois has become the latest state to sue the country's biggest e-cigarette maker.