CLASS ACTION ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have Significant Losses From Investment In Philip Morris International Inc. (NYSE: PM) To Contact Brower Piven Before The Lead Plaintiff Deadline
Brower Piven, A Professional Corporation
Sep. 06, 2018
STEVENSON, Md., Sept. 06, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Philip Morris International Inc. (NYSE: PM) (“Philip Morris” or the “Company”) securities during the period between February 8, 2018 and April 18, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until November 5, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Philip Morris securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that 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, that its much-lauded sales initiatives had stalled and that it was experiencing adverse sales headwinds in key markets.
According to the complaint, following an April 19, 2018 announcement that combined cigarette and heated tobacco unit shipment volume had declined by 2.3% during the quarter, that key sales initiatives had stalled, and that cigarette shipments had fallen, the value of Philip Morris shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Philip Morris securities purchased on or after February 8, 2018 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. PivenBrower Piven, A Professional Corporation1925 Old Valley RoadStevenson, Maryland 21153Telephone: 410-415-6616 firstname.lastname@example.org