Levi & Korsinsky, LLP announces that a PM class action lawsuit has been filed on behalf of investors who purchased Philip Morris International, Inc. (PM) securities between July 26, 2016 and April 18, 2018. For more on the PM Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Philip Morris was experiencing a faster decline in overall cigarette and e-cigarette (or “heated tobacco”) sales volumes during the first quarter of 2018 than investors had been led to believe; (2) Philip Morris’ much-lauded sales initiatives had stalled; (3) Philip Morris was experiencing adverse sales headwinds in key markets; and (4) as a result of the foregoing, defendants’ statements about Philip Morris’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in you have until November 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.