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Juul Labs Inc. reached a sweeping legal settlement Tuesday covering more than 5,000 lawsuits and about 10,000 individual plaintiffs. Financial terms weren’t disclosed.
The deal resolves much of the legal uncertainty that had pushed the e-cigarette company to the brink of bankruptcy. Juul said Tuesday that it had secured an equity investment to cover the cost of the settlement. Juul has been in talks with early investors including two of its longtime board members, Nick Pritzker and Riaz Valani, to fund a bailout that would cover its legal liabilities, The Wall Street Journal previously reported.
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