SAN DIEGO, Feb. 12, 2024 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of British American Tobacco p.l.c. (NYSE: BTI) publicly traded securities between February 9, 2023 and December 6, 2023, inclusive (the “Class Period”), have until March 25, 2024 to seek appointment as lead plaintiff of the British American Tobacco class action lawsuit. Captioned David v. British American Tobacco p.l.c., No. 24-cv-00517 (E.D.N.Y.), the British American Tobacco class action lawsuit charges British American Tobacco as well as certain of British American Tobacco’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the British American Tobacco class action lawsuit, please provide your information here:
CASE ALLEGATIONS: British American Tobacco is a multi-national tobacco company.
The British American Tobacco class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that British American Tobacco materially understated the risks and potential likelihood of an impairment to its Premium American Cigarette Brands as a result of various longstanding headwinds.
The British American Tobacco class action lawsuit further alleges that on December 6, 2023, British American Tobacco announced that it was taking a 25 billion pound (or around $31.5 billion USD) impairment on the cigarette brands it acquired from Reynolds American Inc. in January 2017. On this news, the price of British American Tobacco American Depositary Receipts fell nearly 9%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired British American Tobacco publicly traded securities during the Class Period to seek appointment as lead plaintiff in the British American Tobacco class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the British American Tobacco class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the British American Tobacco class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the British American Tobacco class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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