NEW ORLEANS, Oct. 5, 2018 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds 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.
Philip Morris investors should visit us at https://www.claimsfiler.com/cases/view-philip-morris-international-inc-securities-litigation-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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