British American Tobacco Faces Class Action Lawsuits Over Misleading Statements

Investors allege the company understated risks leading to significant financial losses.

A class action lawsuit has been filed against British American Tobacco for allegedly making false and misleading statements about its business operations.
Investors with losses exceeding $100,000 are reminded to file lead plaintiff applications by March 25, 2024.
The lawsuits cover a class period from February 9, 2023, to December 6, 2023, and seek to recover damages for violations of federal securities laws.
British American Tobacco disclosed a 25 billion Pound impairment on cigarette brands, attributed to 'macro-economic headwinds' affecting the U.S. combustibles industry.
The disclosure led to an 8.88% drop in the price of the company's American Depositary Receipts.