SEC reportedly probing Altria's Juul investment
The Securities and Exchange Commission has launched an investigation into Altria's investment in e-cigarette start-up Juul Labs, the Wall Street Journal reported on Friday.

Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal. Altria's stake valued the start-up at $38 billion.

Altria took a $4.1 billion impairment charge for its investment in Juul in January. The company said the charge reflects the growing legal charges against Juul and the expectation that the number of lawsuits will only increase. Juul is being sued by multiple states for its role in promoting vaping among teens and children.