May 15, 2023
(press release)
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RICHMOND, Va.–(BUSINESS WIRE)–$MO–Altria Group, Inc. (
“While we continue to believe the claims against us are meritless, we believe this settlement avoids the uncertainty and expense of a protracted legal process and is in the best interest of our shareholders,” said
In
This settlement does not apply to three cases brought by attorneys general, 35 cases brought by Native American tribes, 17 antitrust cases or three Canadian cases. The settlement remains subject to the parties entering into one or more final settlement agreements (“Settlement Agreements”) approved by the relevant courts. We expect to record a pre-tax charge of
Altria’s Profile We have a leading portfolio of tobacco products for
Our wholly owned subsidiaries include leading manufacturers of both combustible and smoke-free products. In combustibles, we own
Additionally, we have a majority-owned joint venture,
Our equity investments include
The brand portfolios of our tobacco operating companies include Marlboro®, Black & Mild®,
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Forward-Looking and Cautionary Statements This release contains certain forward-looking statements with respect to the Settlement Agreements, which are subject to various risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, the finality of the Settlement Agreements. Factors that may cause actual results to differ include failure by the parties to reach agreement on the final terms of the Settlement Agreements, failure of the relevant courts to grant final approval of the Settlement Agreements and additional legal proceedings instituted against us. Other risk factors are detailed from time to time in our publicly filed reports, including our Annual Report on Form 10-K for the year ended
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