NEW YORK, Dec. 10, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of British American Tobacco p.l.c. (“BAT” or the “Company”) (NYSE: BTI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether BAT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On December 6, 2023, BAT announced that the Company would take an impairment charge of approximately $31.5 billion after reassessing the value of certain of the Company’s U.S. cigarette brands. The Company stated that its U.S. business was affected by inflation-weary customers downgrading to cheaper brands and that it would start amortizing the remaining value of its U.S. brands in 2024.
On this news, BAT’s stock price fell sharply during intraday trading on December 6, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
