Juul Agrees to Pay $40 Million for Allegedly Targeting Teens
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. ***** TUESDAY, JUNE 29, 2021 ~ VOL. CCLXXVII NO. 150 WSJ.com HHHH $4.00 DJIA 34283.27 g 150.57 0.4% NASDAQ 14500.51 À 1.0% STOXX 600 454.94 g 0.6% 10-YR. TREAS. À 17/32 , yield 1.478% OIL $72.91 g $1.14 GOLD $1,779.60 À $3.00 EURO $1.1924 YEN 110.62 Rescuers Push On for Fifth Day at Site of Condo Collapse What’s Facebook News Antitrust Business&Finance Lawsuits Tossed federal judge dismissed Aantitrust lawsuits against Facebook filed by the U.S. government and most By Judge states, a major win for the company before the cases Federal court’s decision even got off the ground. A1 deals a blow to bid by Juul agreed to pay $40 million to North Carolina to FTC, 46 states to rein settle a lawsuit alleging that in social-media giant the e-cigarette maker had targeted underage users. A1 BY BRENT KENDALL A botched overhaul at the PCAOB heightened an “envi- WASHINGTON—A federal ronment of fear and distrust” judge dismissed antitrust law- among the staff, according to a suits against Facebook Inc. report the SEC commissioned filed by the U.S. government but then kept secret. B1 and most states, a major win for the company before the The NCAA Division I cases even got off the ground. Council proposed an in- ALEXIA FODERE FOR THE WALL STREET JOURNAL U.S. District Judge James terim policy for the associ- SEARCHING: Rescue crews comb through the rubble of the collapsed Miami-area condo tower Monday morning, searching Boasberg in Washington on ation that would suspend a for survivors as efforts entered their fifth day. The death toll rose to 11, with 150 people unaccounted for. A3 Monday granted the social- bylaw that prohibits ath- media giant’s requests to dis- letes from monetizing their miss lawsuits filed by the Fed- name, image and likeness. A2 eral Trade Commission and Stocks and commodities state attorneys general in De- are advancing together in cember. The dismissals, which a manner that signals de- came in a pair of rulings, came mand for riskier invest- Juul Agrees to Pay $40 Million before any pretrial proceed- ments remains robust. A1 ings had progressed. The Nasdaq and S&P 500 Judge Boasberg said the closed at records, rising 1% FTC’s lawsuit was “legally in- and 0.2%, respectively. The For Allegedly Targeting Teens sufficient” because it didn’t Dow industrials fell 0.4%. B1 plead enough allegations to support monopolization claims Bitcoin’s price rose after BY OMAR ABDEL-BAQUI brought against the vaping ternal Juul documents will be said. “In addition, we support against Facebook. The judge, billionaire Ricardo Salinas AND JENNIFER MALONEY company by state officials, deposited at a North Carolina the attorney general’s desire to however, said the commission Pliego said his bank was school districts and young peo- university and will be made deploy funds to generate ap- can try again and gave it 30 working toward becoming Juul Labs Inc. agreed to pay ple. Those cases are pending. available to the public by July propriate science to support days to attempt to file an the first Mexican lender to $40 million to the state of North Carolina’s lawsuit al- 2022. The settlement funds, to North Carolina’s public health amended lawsuit. accept the cryptocurrency. B1 North Carolina to settle a law- leged Juul designed and mar- be paid over six years, will interventions to reduce under- The judge dismissed the case Millions of homeowners suit alleging that the e-ciga- keted its e-cigarettes to attract support scientific research on age use.” brought by 46 states in its en- behind on mortgage payments rette maker had targeted un- teenagers and misrepresented youth vaping cessation and Juul didn’t admit wrongdo- tirety, on the grounds that the would get added protections derage users, resolving the the potency of their nicotine. curbing youth use. ing as part of the settlement. attorneys general waited too from foreclosure through 2021 first of a string of legal and Juul has said it didn’t target “Welookforwardtowork- Once one of the country’s long to bring their claims. under new CFPB rules. A4 regulatory challenges facing young people and is working ing with Attorney General most valuable startups, Juul The rulings dealt a direct, the once-hot startup. to regain the public’s trust. Stein and other manufacturers has been widely blamed by early blow to bipartisan gov- The UAW’s board elected The lawsuit by the attorney As part of the North Caro- on the development of poten- parents and government offi- ernment efforts to pursue Big Ray Curry, who most recently general of North Carolina was lina settlement, announced by tial industrywide marketing cials for a surge in teen vaping Tech giants on allegations served as the union’s secre- slated to go to trial in July, one state Attorney General Josh practices based on science and from 2017 to 2018. The com- they have unlawfully monopo- tary-treasurer, to succeed of hundreds of similar cases Stein on Monday, a trove of in- evidence,” a Juul spokesman PleaseturntopageA4 PleaseturntopageA6 Rory Gamble as president. B1 World-Wide Cost Imperils Access Tech Shares Steady Advances The recent approval of a Lift Markets high-price Alzheimer’s drug The tech-heavy Nasdaq raises the prospect that the To Alzheimer’s Drug climbed 140.12 points, or 1%, In Stocks, Materials federal Medicare system to 14500.51, a record. B1 could threaten to sharply BY JOSEPH WALKER former U.S. health officials and curtail which patients will AND THOMAS M. BURTON health-policy experts said. Nasdaq Composite Show Faith in Risk qualify for a medicine that “Medicare can’t afford to 15000 Monday has limited clinical benefit. A1 The recent approval of a treat this as business as 14,500.51 BY AMRITH RAMKUMAR Rescue crews continued high-price Alzheimer’s drug usual,” said Andy Slavitt, a buoyed in recent days by tech- AND HARDIKA SINGH forafifthdaytosearchfor raises the prospect that the fed- former Medicare acting ad- s0.98% nology stalwarts like Microsoft survivors in the rubble of a eral Medicare system could ministrator and Biden admin- Corp. and Facebook Inc. as well 14000 Stocks and commodities are collapsed condo tower in threaten to sharply curtail which istration senior adviser. as consumer-focused stocks surging together in a way few Surfside, Fla. The death patients will qualify for a medi- The Centers for Medicare such as Chipotle Mexican Grill on Wall Street have ever seen, toll rose to 11, with 150 cine that has limited clinical and Medicaid Services, the Inc. Facebook’s market value on benefit but is likely to cost bil- agency overseeing Medicare, is a sign that demand for riskier Monday hit $1 trillion for the people unaccounted for. A3 13000 The president of the condo lions of dollars in coming years. reviewing Aduhelm’s approval investments remains robust. first time after a federal judge association told residents in Biogen Inc. priced the drug and will have more informa- The S&P 500 and S&P GSCI dismissed antitrust lawsuits April their building was in Aduhelm at $56,000 a year. tion soon about its coverage, a gauge of commodities enter the against the social-media giant. desperate disrepair and urged Wall Street analysts estimate spokesman said. last few days of the second Shares rose more than 4%. 12000 them to pay the $15 million it could eventually surpass $5 “Whether or not that drug quarter up about 8% and 13% With the advance, Facebook in assessments needed to billion in yearly sales, mostly will be covered by Medicare for the period, respectively. became the fifth U.S. public paid by Medicare, while some and Medicaid is an outstand- This would mark the first time company to achieve the $1 tril- fix structural problems. A3 health economists warn the ing question, something HHS that both indexes climbed at lion milestone, punctuating a Lawyers representing bill would be multiples higher. will have to deal with,” De- 11000 least 5% in five consecutive nearly uninterrupted rise for the Trump Organization Medicare normally pays un- partment of Health and Hu- JFMAMJ quarters, according to a Dow major indexes since April 2020. made a last-ditch effort to conditionally for approved PleaseturntopageA6 Jones Market Data analysis of Last week, Microsoft hit a mar- persuade New York prose- medicines. To limit the finan- Source: FactSet figures going back 50 years. ket value of $2 trillion, joining cutors not to pursue tax-re- cial hit from Aduhelm, however, A guide to the new drug for The S&P 500 hit its 32nd re- Apple Inc. as the only U.S. firms lated charges that could come Medicare could restrict access, Alzheimer’s................................ A11 cord of the year on Monday, PleaseturntopageA2 as soon as this week. A4 The Supreme Court or- dered a lower court to recon- Hands Off sider whether St. Louis officers U.S. Demand Drives used excessive force in 2015 The Chocolate when kneeling on a shackled Global Recovery suspect who later died. A3 The high court declined Fountain to consider a Virginia school iii board’s plea to exclude a transgender boy from the Buffets are back— Americans are buying, buoyed by savings men’s bathroom. A2 and federal stimulus during pandemic U.S. troops in northeast with new policies Syria came under rocket fire BY TOM FAIRLESS cheting through financial after Iran-backed militias and gloves AND STELLA YIFAN XIE markets and causing disloca- vowed revenge for U.S.