Philip Morris is facing securities class actions on both sides of the Hudson over problems in its efforts to develop a less-harmful alternative to cigarettes.

In Newark before U.S. District Judge Esther Salas, Philip Morris is accused of misleading stockholders about the status of its development of so-called reduced-risk tobacco products. In the Southern District of New York, three lawsuits claim Philip Morris gave investors an overly rosy assessment of its introduction of a reduced-risk smoking product called iQOS.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]