According to a Bloomberg report on December 27, the US Appeals Court dismissed the securities fraud class-action lawsuit filed against Philip Morris International (PMI) by shareholders on December 26.
Investors' collective lawsuit against PMI primarily includes the following aspects:
Firstly, investors have doubts about the clinical research methods and results submitted by PMI to the US FDA regarding IQOS. They consider the company's claims regarding the research on IQOS, such as being "rigorous," "the best science," and "highly advanced," to be false representations.
Secondly, investors have expressed doubts about the statement regarding the projected sales of IQOS in Japan by PMI.
In the end, US Appeals Court rejects investors' concerns over the clinical research methods and results of IQOS, while also ruling that optimistic statements regarding Japanese sales performance are allowed as forward-looking statements.
We welcome news tips, article submissions, interview requests, or comments on this piece.
Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn
Notice
1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.
2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.
3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.
4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.
Copyright
This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.
For copyright-related inquiries, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.
We welcome any corrections or feedback. Please contact us at: info@2firsts.com
![[Breaking] Juul’s Device and 4 Pod Products Officially Authorized by FDA, Reenters the U.S. Regulated Market](https://static.2firsts.com/uploads/20241113/34ffc17feb2b6076367c9e5f413641f2.jpg?x-oss-process=style/origin)
