January 30, 2020
The company that makes Marlboro cigarettes saw in late 2018 the opportunity to offset declining tobacco sales with a $13 billion investment in Juul, the e-cigarette maker.
That investment has come at a tremendous cost, the latest a $4.1 billion hit announced Thursday by Altria as legal cases against the company continue to mount. That follows a $4.5 billion writedown in October, when Altria slashed the value of its investment in Juul Labs by a third.
Read more: IMPO
