(RTTNews) - The Securities and Exchange Commission has launched an investigation into Altria Group, Inc's. (MO) investment in e-cigarette maker Juul Labs, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The SEC reportedly is investigating whether Altria adequately disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018.
Juul has turned over documents including correspondence with Altria and financial projections shared with Altria before the deal, the report said.
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