Washington Times · Dec 7, 2022
Juul reaches settlements covering more than 5,000 cases
Juul products are displayed at a smoke shop in New York, on Dec. 20, 2018. Embattled vaping company Juul Labs announced layoffs Thursday, Nov. 10, 2022, as the company tries to weather growing setbacks to its electronic cigarette business, including ...Juul Labs has reached settlements covering more than 5,000 cases brought by about 10,000 plaintiffs related to its vaping products.
Financial terms of the settlement were not disclosed, but Juul said that it has secured an equity investment to fund it.
Buffeted by lawsuits, Juul announced hundreds of layoffs last month and bankruptcy appeared increasingly likely as it secured financing to continue operations.