Altria Takes $4.1B Writedown on Juul Investment
The company recorded $8.6 billion in impairments on its investment in the e-cigarette company.
Juul to Cut 650 Jobs, Slash $1B in Costs
The move comes after Altria announced a $4.5 billion writedown of its investment.
Altria Takes $4.5 Billion Hit on Investment in Juul
"We did not anticipate this dramatic a change in the e-vapor category,” CEO Howard Willard says.
Juul Replaces CEO; Altria-Phillip Morris End Merger Talks
The e-cigarette company is also suspending advertising in the United States after vaping backlash.