Home Stock U.S. choose grants preliminary approval to Juul client settlement By Reuters

U.S. choose grants preliminary approval to Juul client settlement By Reuters

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U.S. choose grants preliminary approval to Juul client settlement By Reuters

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© Reuters. FILE PHOTO: Juul e-cigarettes are seen on the counter of a vape retailer in Santa Monica, California, U.S., June 23, 2022. REUTERS/Lucy Nicholson

(Reuters) -Juul Labs Inc on Friday secured preliminary court docket approval of a $255 million settlement resolving claims by customers that it deceptively marketed e-cigarettes, as the corporate seeks to resolve hundreds of lawsuits.

U.S. District Decide William Orrick in San Francisco stated the proposed class motion settlement resolving claims by customers who stated they overpaid for Juul’s vaping merchandise was “honest, affordable, and enough,” in keeping with a court docket submitting.

The settlement is a component of a bigger, international settlement by Juul to resolve hundreds of lawsuits by faculty districts, native governments and people accusing it of contributing to a youth vaping epidemic.

The corporate final month stated it had reached settlements with about 10,000 plaintiffs protecting greater than 5,000 instances. It has not stated how a lot it’s going to pay, although the Wall Road Journal reported deal is valued at $1.7 billion.

The category motion settlement resolves claims by individuals who say they’d have paid much less, or not purchased the e-cigarettes in any respect, if Juul had not downplayed the merchandise’ addictiveness and appealed to youngsters by means of social media campaigns and different means.

Juul didn’t reply to a request for remark.

Partly owned by Marlboro maker Altria Group (NYSE:) Inc, Juul in September agreed to pay $438.5 million to settle claims from 34 U.S. states and territories that stated the corporate focused underage consumers and downplayed its merchandise’ dangers.

The U.S. Meals and Drug Administration in June briefly banned Juul’s e-cigarettes, although it later put the order on maintain following an attraction.

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