Juul reaches settlements covering more than 5,000 cases – CTV

Dec. 7, 2022

Juul Labs has reached settlements covering more than 5,000 cases brought by about 10,000 plaintiffs related to its vaping products.

Financial terms of the settlement were not disclosed, but Juul said that it has secured an equity investment to fund it.

Juul rocketed to the top of the U.S. vaping market five years ago on the popularity of flavours like mango, mint and creme brulee. But the San Francisco company’s rise was fuelled by use among teenagers, some of whom became hooked on Juul’s high-nicotine pods.

The backlash against teen vaping triggered a series of government actions that have forced the company into retreat. Since 2019, Juul has dropped all U.S. advertising and discontinued most of its flavours.

Buffeted by lawsuits, Juul announced hundreds of layoffs last month and bankruptcy appeared increasingly likely as it secured financing to continue operations.

Read more: https://www.ctvnews.ca/health/juul-reaches-settlements-covering-more-than-5-000-cases-1.6184258

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