Packages of Juul e-cigarettes are displayed on June 22, 2022, in Los Angeles. Photo: Mario Tama/Getty Images
Juul Labs announced Tuesday that it has reached a settlement on more than 5,000 cases involving about 10,000 plaintiffs.
Driving the news: The company did not disclose the settlement amount but said it "secured an equity investment to fund the resolution."
- These cases involve personal injury, consumer class action, government entity and Native American tribes, per Juul.
The big picture: The announcement comes a month after the company said it secured enough new financing to avoid bankruptcy as it continues to battle federal regulators over selling its products on the open market.
What they're saying: "These settlements represent a major step toward strengthening Juul Labs’ operations and securing the company’s path forward to fulfill its mission to transition adult smokers away from combustible cigarettes while combating underage use," the company said in a statement.
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