Why Jim Cramer Is Taking a Stance Against Juul
Juul's CEO Kevin Burns is stepping down effective immediately.
"I am very proud of my team's efforts to lead the industry toward much needed category-wide action to tackle underage usage of these products, which are intended for adult smokers only," Burns said in a statement.
On September 9, the U.S. Food and Drug Administration issued a warning letter to Juul Labs charging the company is was breaking the law by marketing its vaping products as less harmful than traditional tobacco products.
The company is also facing several lawsuits, including a trio of federal lawsuits filed by three New Jersey teenagers who charged the e-cigarette maker targeted youth through its marketing strategies, product design and flavors.
All three teenagers became addicted to nicotine after using Juul vaping products, according to the complaints.
Watch the full video above to hear why Cramer has an issue with Juul.
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