Juul Labs Director Denies Claims He Benefitted From Bail-Out (1)

Juul Labs Inc. director Riaz Valani is defending lifelines he and hotel billionaire Nick Pritzker have thrown the vaping company amid its financial turmoil, saying the investments have been for the good of the company and not personal gain.

Regulatory pressure and looming trials over marketing practices that allegedly targeted minors led to a “very precarious time” at the vaping company as it considered bankruptcy in 2022, Valani testified Wednesday before the Delaware Court of Chancery.

Investment firms claim Valani, Pritzker, and other Juul insiders had positioned themselves to personally benefit from the company’s decision to convert debt into equity ...