LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of British American Tobacco p.l.c. (“BAT” or the “Company”) (NYSE: BTI) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On December 6, 2023, BAT disclosed that it would take an impairment charge of approximately $31.5 billion after reassessing the value of certain cigarette brands. The Company stated that it had been affected by inflation-weary customers in the U.S. downgrading to cheaper brands. On this news, BAT’s stock price fell $2.68, or 8.5%, to close at $28.86 per share on December 6, 2023, thereby injuring investors.
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If you purchased BAT securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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