SAN FRANCISCO — Juul Labs has reached a settlement to bring to a close thousands of lawsuits filed against the vapor company.
As of Dec. 6, the company settled with plaintiffs in federal multidistrict litigation (MDL) and related Juul Labs Product Cases (JCCP) that have been consolidated in the United States District Court for the Northern District of California.
According to Juul, "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."
The resolution covers more than 5,000 cases brought by roughly 10,000 plaintiffs against Juul Labs and its officers and directors. These cases in the MDL and JCCP, and subject to the resolution, come from the following groups: personal injury, consumer class action, government entity and Native American tribes. As part of the settlement and court process, Juul Labs cannot disclose the settlement amount at this time, but has secured an equity investment to fund the resolution, the company added.
Citing people familiar with the issue, Bloomberg puts the amount at $1.2 billion.
This follows the company's $438.5 million agreement to settle with 37 states and territories to settle a two-year investigation into the vapor company's marketing and sales practices three months ago, as Convenience Store News reported.
The company said it is in ongoing discussions with other key stakeholders to resolve the remaining litigation. Additionally, Juul Labs has taken a series of steps to stabilize its business operations and address past legal issues.