Security Investigation

British American Tobacco p.l.c (NYSE: BTI)

21 Days left to seek lead plaintiff status.

Company Name:British American Tobacco
Stock Symbol:NYSE: BTI
Court:Eastern District of New York
Class Period Start:02/09/2023
Class Period End (inclusive):12/06/2023
Filing Deadline:03/25/2024

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(877) 515-1850

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 25, 2024 to file lead plaintiff applications in a securities class action lawsuit against British American Tobacco p.l.c (“BA Tobacco” or the “Company”) (NYSE: BTI).

BA Tobacco and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On December 6, 2023, the Company disclosed that it was taking a 25 billion Pound (around $31.5 billion USD) impairment on the cigarette brands it had acquired from Reynolds American Inc. in early 2017 due to “macro-economic headwinds impacting the U.S. combustibles industry,” which The Wall Street Journal referred to as “one of the biggest corporate write-offs in recent history,” noting the Company’s statement that its performance in the U.S. had been hindered by smokers switching to cheaper, nonpremium brands.

On this news, the price of BA Tobacco’s American Depositary Receipts fell $2.68 per share, or 8.88%, to close at $28.86 per ADR on December 6, 2023.

If you purchased securities of BA Tobacco and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is David v. British American Tobacco p.l.c., et al., No. 24-cv-00517.

Click here to read the first filed complaint.