The FTC began its investigation before Altria purchased a 35% stake in Juul, according to The Wall Street Journal.
Altria Group sank as much as 5% Thursday after The Wall Street Journal reported the Federal Trade Commission is investigating Juul Labs for dubious ads. Altria purchased a 35% stake in Juul for $12.8 billion in December. The FTC investigation began before the acquisition was made, according to WSJ. Juul's advertisements have fallen under scrutiny for portraying its vaping device as a lifestyle accessory, complete with appealing flavors and popularity among people in their 20s and 30s.
Altria Group sank as much as 5% Thursday after The Wall Street Journal reported the Federal Trade Commission is investigating Juul Labs for dubious ads. Altria purchased a 35% stake in Juul for $12.8 billion in December. The FTC investigation began before the acquisition was made, according to WSJ. Juul's advertisements have fallen under scrutiny for portraying its vaping device as a lifestyle accessory, complete with appealing flavors and popularity among people in their 20s and 30s.
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