E-cigarette company Juul Labs is looking for funding to finance its potential bankruptcy process, Bloomberg reported. Though the company has not confirmed the news, rumors are abuzz that it would soon apply for bankruptcy after the U.S. Food and Drug Administration issued an MDO (Marketing Denial Order) in June for Juul products in the domestic market.  Last week, Altria (NYSE:MO), which invested $12.8 billion in 2018 to pick up a 35% stake in Juul Labs, ended its non-compete deal with the company.  In an SEC filing, Altria announced that the company is exercising its option to release itself from the Juul non-competition obligations.
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