NEW ORLEANS, Sept. 14, 2018 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 5, 2018 to file lead plaintiff applications in a securities class action lawsuit against Philip Morris International Inc. (NYSE: PM), if they purchased the Company's shares between February 8, 2018 and April 18, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Philip Morris 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 (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-pm/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 5, 2018.
About the Lawsuit
Philip Morris and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 19, 2018, Philip Morris disclosed poor financial results for the Company's first quarter of 2018, including a 2.3% decline in combined cigarette and heated tobacco unit shipment volume, key sales initiatives that had stalled, plateau in growth due to market demographics and ineffective consumer conversion strategies, and that cigarette shipments had fallen by 5.3%.
On this news, the price of Philip Morris shares plummeted $15.80/share, more than 15%, to close at $85.64/share on April 19, 2018.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC