Juul is in deep trouble, and its valuation has been cut short

Tiger global management, a private equity firm, has halved its valuation of Juul labs Inc, the maker of e-cigarettes, to $19 billion.

The write down occurred at the end of September, the report quoted people familiar with the matter as saying.

Altria Group Inc., the world’s largest tobacco company, owns 35% of Juul. Altria’s investment in Juul in October was written down by $4.5 billion, and its valuation fell by more than a third to about $24 billion.

Neither tiger global nor Juul immediately commented.

Juul has been in controversy recently, and the company has been accused of contributing to the popularity of e-cigarettes among teenagers. In addition, a mysterious lung disease related to e-cigarettes recently broke out in the United States, and consumers began to question the safety of e-cigarettes.

Juul is currently being sued in several States, including New York. Trump’s senior advisor also said that the ban on flavored e-cigarettes would be introduced soon.

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