FTC probes Altria for role in Juul executive changes

FTC probes Altria for role in Juul executive changes

U.S. antitrust enforcers are probing Altria Group Inc for potentially exerting influence over vaping maker Juul Labs Inc before winning approval for a big share buy, Altria said in a government filing on Thursday.

FILE PHOTO: Federal Trade Commission seal is seen at a news conference at FTC headquarters in Washi
FILE PHOTO: Federal Trade Commission seal is seen at a news conference at FTC headquarters in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas/File Photo

WASHINGTON: U.S. antitrust enforcers are probing Altria Group Inc for potentially exerting influence over vaping maker Juul Labs Inc before winning approval for a big share buy, Altria said in a government filing on Thursday.

"The FTC (Federal Trade Commission) issued a Civil Investigative Demand to Altria while it was conducting its antitrust review of Altria’s investment in JUUL seeking information regarding, among other things, Altria’s role in the resignation of JUUL’s former chief executive officer and the hiring by JUUL of any current or former Altria director, executive or employee," Altria said in the filing.

(Reporting by Diane Bartz)

Source: Reuters

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