Law360 (June 2, 2021, 9:35 p.m. EDT) – At the launch of an administrative lawsuit over antitrust allegations, tobacco giant Altria Group Inc. told a Federal Trade Commission judge on Wednesday that it had purchased a stake $ 12.8 billion in an electronic cigarette business. Juul Labs Inc. because its own alternatives to tobacco have failed and for not avoiding competition.
Representing Altria, Beth A. Wilkinson of Wilkinson Stekloff LLP told FTC Chief Administrative Law Judge D. Michael Chappell that while Altria and JLI once fought hard in the electronic vaporizer market, “JLI has won the battle and Altria lost.
The FTC’s enforcement action alleges that Altria’s acquisition of a 35% stake in JLI was …
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