Both companies have responded to the SEC’s subpoenas, WSJ said, citing some of the people. The SEC reportedly is investigating whether Altria adequately disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018. Juul has turned over documents including correspondence with Altria and financial projections Juul shared with Altria before the deal, the WSJ report said, citing one of the people.

Altria is still being investigated for antitrust violations regarding its acquisition of Juul, The Wall Street Journal reports. Juul and Altria have both responded to subpoenas from the SEC, sources told the Journal. The SEC has issued subpoenas to Juul and the e-cigarette maker has responded, according to the person familiar with the matter. Juul and Altria did not immediately respond to Reuters request for comment. Rich … SEC Launches Probe Into Altria's Juul Investment The companies are the subject of several investigations by government agencies and regulators. Juul and Altria have both responded to subpoenas from the SEC, sources told the Journal. The SEC has issued subpoenas to Juul and the e-cigarette maker has responded, according to the person familiar with the matter. said the SEC is probing whether Altria adequately disclosed the risks of the investment. Altria has recorded $8.6 billion in impairment charges since investing in Juul in December 2018, bringing the value of its investment to $4.2 billion by end of 2019. Separately, an analyst at CFRA downgrades the stock to sell from hold. Altria has recorded $8.6 billion in impairment charges since investing in Juul in December 2018, bringing the value of its investment to $4.2 billion by end of 2019. Juul has turned over documents including correspondence with Altria and financial projections Juul shared with Altria before the deal, the person said. The e-cigarette maker turned over documents to the SEC that included correspondence with Altria and financial projections that it gave to Altria prior to its decision to invest in Juul, one person said to the Journal.

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