A lawsuit was filed on behalf of investors in Philip Morris International Inc. (NYSE:PM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/09/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Philip Morris International Inc. (NYSE:PM), filed a lawsuit over alleged violations of Federal Securities Laws by Philip Morris International Inc. in connection with certain allegedly false and misleading statements over its iQOS smoking device.
Investors who purchased shares of Philip Morris International Inc. (NYSE:PM) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between July 26, 2016 and December 20, 2017, the defendants made false and/or misleading statements and/or failed to disclose that there were irregularities in the clinical experiments that underpin Philip Morris' application to the FDA for approval of its iQOS smoking device, and that as a result, defendants' statements about Philip Morris' business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On December 20, 2017, a report was published stating that "[f]ormer employees and contractors [of Phillip Morris] have detailed irregularities in the clinical experiments that underpin Philip Morris International's application to the FDA for approval of its iQOS smoking device." The report further stated that "Tamara Koval, who worked at the company from 2012 to 2014 and helped coordinate clinical trials for the device, questioned the quality of some of the researchers and sites contracted to carry out those experiments." The report added that "after [Koval] raised concerns about the Polish study with Philip Morris executives in Switzerland she was excluded from meetings."
Those who purchased shares of Philip Morris International Inc. (NYSE:PM) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com