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Philip Morris International: Class Action


Philip Morris International

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Philip Morris International (NYSE:PM) in connection to alleged violations of securities laws by PM. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Philip Morris International from July 26, 2016 until December 20, 2017.

The class action complaint specifically alleges that during the period in question, PM might have provided false and/or misleading material information, and/or failed to disclose adverse material information, namely: that the company’s application for FDA approval for IQOS, a smoking technology, was underpinned by scientific experiments containing irregularities; and that consequently the company’s statements to the public during the relevant period were false and misleading and/or had no reasonable basis. The complaint alleges that when true facts emerged, investors suffered losses.

According to the company’s website, Philip Morris International is “a leading international tobacco company” that employs approximately 80,000 people. The company owns “six of the world’s top international 15 brands,” such as the top brand, Marlboro. It operates 48 facilities in 32 countries around the globe. Its products “are the choice of 150 million consumers worldwide, and for those who choose to continue to smoke, we will continue to offer them the best quality products,” according to the company’s description.

A class action lawsuit has already been filed in connection with Philip Morris International. If you wish to serve as lead plaintiff in the PM lawsuit, you must move the Court no later than February 20, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.