Juul Agrees to Pay $1.2 Billion in Youth-Vaping Settlement (1)

Juul Labs Inc. has agreed to pay $1.2 billion to resolve about 10,000 lawsuits targeting the e-cigarette maker as a major cause of a US youth-vaping epidemic, according to people familiar with the matter.

The accord, which hasn’t yet been finalized, was announced on Tuesday, but an amount wasn’t disclosed. The deal aims to resolve all personal-injury, class-action and school-district claims against Juul gathered before a judge in California for pre-trial information exchanges, the people said.

Recorded in October 2019, Bloomberg Quicktake spoke to three teens about how vaping almost cut their lives short. Then, they called on the industry to make sure it doesn’t happen again. On Sept. 6, 2022, Juul Labs reached a deal in principle to pay 33 states $438 million to settle claims that it marketed addictive nicotine products to children.

Source: Bloomberg

The proposed settlement comes as the embattled e-cigarette maker likely staved off bankruptcy last month with a cash infusion from long-time investors ...