Glancy Prongay & Murray LLP (GPM) announces that a class action lawsuit has been filed on behalf of investors that purchased Philip Morris International Inc. (Philip Morris or the Company) (NYSE: PM) securities between February 8, 2018, and April 18, 2018, inclusive (the Class Period). Philip Morris investors have until November 5, 2018 to file a lead plaintiff motion.
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Investors suffering losses on their Philip Morris investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
The Complaint filed in this class action alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding the Company’s business and prospects, including 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. As a result of these misrepresentations, Philip Morris stock traded at artificially inflated prices during the Class Period, and investors were damaged when the stock price eventually fell.
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If you purchased shares of Philip Morris during the Class Period you may move the Court no later than November 5, 2018 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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