Juul Labs Inc. reached a settlement of more than 5,000 lawsuits blaming the company for a youth vaping epidemic across the U.S.
As part of the accord, the embattled e-cigarette maker isn’t allowed to immediately disclose the settlement amount, the company said in a statement, adding that the accord will be funded with an equity investment.
“These settlements represent a major step toward strengthening Juul Labs’ operations and securing the company’s path forward to fulfill its mission to transition adult smokers away from combustible cigarettes while combating underage use,” according to the statement.
