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CBD vape product trial launched by BAT, catching industry s eye

CBD vape product trial launched by BAT, catching industry s eye
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BAT discloses $555 million in MSA dispute charges involving Reynolds, ITG

British American Tobacco Plc said Wednesday that it took a $554.8 million charge during fiscal 2020 related to an annual Master Settlement Agreement-type payments dispute. In June 2015, BAT subsidiary R.J. Reynolds Tobacco Co. sold traditional cigarette brands Kool, Maverick, Salem and Winston for $7.1 billion to U.K.-based Imperial Brands Plc. The brands were transferred to Imperial s U.S. subsidiary ITG Brands LLC of Greensboro. The four brands combined represent about 7.5% of the U.S. market share for traditional cigarettes. Reynolds divested Kool, Salem and Winston, while Lorillard Inc. divested Maverick, in order for Reynolds to gain federal regulatory approval of its $29.25 billion purchase of Lorillard.

Altria Announces Pricing of Previously Announced Cash Tender Offers

Press release content from Business Wire. The AP news staff was not involved in its creation. Altria Announces Pricing of Previously Announced Cash Tender Offers February 16, 2021 GMT RICHMOND, Va. (BUSINESS WIRE) Feb 16, 2021 Altria Group, Inc. (“Altria”) (NYSE: MO) today announced the pricing terms for its previously announced cash tender offers for certain of its outstanding senior unsecured notes (each, a “Tender Offer” and collectively, the “Tender Offers”). Tender Offers Summarized in the table below are the applicable Reference Yields and Total Consideration to be paid in connection with the Tender Offers for (i) up to an amount that is sufficient (the “Pool 1 Maximum Amount”) to allow Altria to accept for purchase all of its 2.850% Notes due 2022 and 2.950% Notes due 2023 (collectively, the “Pool 1 Notes”) that were validly tendered and not validly withdrawn as of the Early Tender Date (collectively, the “Pool 1 Tender Offers”), (ii) up to an am

Erie School District to sue e-cigarette maker Juul over youth vaping

Like other suits nationwide, Erie suit would claim Juul s marketing targeted minors Juul says it aims to reset vapor category in the U.S. The Erie School District is joining scores of public school districts and other government entities nationwide in taking legal action over underage vaping. The Erie School Board has authorized the district to sue Juul Labs Inc., claiming the nation s largest electronic cigarette company wrongfully marketed its products   with their streamlined designs and fruity flavors   to youth, spurring a vaping epidemic among students, harming their health and adding to the district s costs. The School Board at its monthly meeting on Wednesday night unanimously approved a representation agreement with three law firms to pursue the litigation against Juul, the first step in what will lead to the filing of a lawsuit in what could be U.S. District Court in Erie.

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