Wealthy Investors Rescued Juul From Bankruptcy. Others Are Crying Foul.
Updated Jan. 2, 2024 4:25 pm ET
Two of Juul Labs’ longtime directors—a Hyatt Hotels heir and a venture capitalist—helped bail out the e-cigarette maker when it was on the brink of insolvency.
It was a deal that preserved the equity investments of Nick Pritzker and Riaz Valani, cemented their influence over the company and secured them releases from liability in thousands of lawsuits against Juul. Now Juul is fighting a lawsuit from a group of investors alleging that those two directors were looking out for their own interests, not the company’s.
Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Updated Jan. 2, 2024 4:25 pm ET
Two of Juul Labs’ longtime directors—a Hyatt Hotels heir and a venture capitalist—helped bail out the e-cigarette maker when it was on the brink of insolvency.
It was a deal that preserved the equity investments of Nick Pritzker and Riaz Valani, cemented their influence over the company and secured them releases from liability in thousands of lawsuits against Juul. Now Juul is fighting a lawsuit from a group of investors alleging that those two directors were looking out for their own interests, not the company’s.
Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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