Juul Pays $462 Million to Settle Youth Vaping Claims

Juul Pays $462 Million to Settle Youth Vaping Claims

THE SIGNAL

In this articlePMFollow your favorite stocksCREATE FREE ACCOUNTJuul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia.Elijah Nouvelage | ReutersJuul will pay $462 million to settle claims by six states and Washington D.C. that the vaping company marketed its addictive e‑cigarettes to underage teens, five Democratic attorneys general announced Wednesday.The agreement is the largest multi-state settlement the company has reached to date, the attorneys general said during a press conference. It means Juul has now settled in suits with 45 states for more than $1 billion. The deal will impose strict limits on Juul’s sales and marketing abilities, and will force Juul to secure its products behind retail store counters and verify the age of purchasers, the officials added.The states that reached the settlement with Juul are New York, California, Massachusetts, New Mexico, Illinois and Colorado.“There is no doubt that Juul played a central role in the vaping epidemic today,” New York Attorney General Letitia James said. “Juul is paying for widespread harm caused and will undergo severe restrictions on its marketing and sales practices.” The settlement adds to years of heavy scrutiny on Juul, the one-time Silicon Valley darling among both tobacco giants and investors. A string of payouts to both governments and consumers over allegations that it marketed addictive products to teens has hampered the company and left it seeking options to stay afloat.The settlement brings the company closer to a “total resolution of the company’s historical legal challenges and securing certainty for our future,” a spokesperson for Juul said. They noted that underage use of Juul products has dec …

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