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British American Tobacco faces UK shareholders' lawsuit over North Korea sanctions breaches
Reuters· 2026-03-04 17:34
Core Viewpoint - British American Tobacco (BAT) is facing a lawsuit from shareholders in London over allegations of failing to disclose breaches of U.S. sanctions related to its operations in North Korea [1] Group 1: Lawsuit Details - More than 100 current and former BAT shareholders filed a lawsuit against the company at London's High Court on February 27, claiming that BAT did not adequately inform the stock market about its business activities in North Korea from 2007 to 2023 [1] - The lawsuit follows BAT's agreement in 2023 to pay over $635 million to U.S. authorities after a subsidiary admitted to violating U.S. sanctions by selling tobacco products to North Korea and committing bank fraud from 2007 to 2017 [1] Group 2: Company Response - BAT has not yet responded to requests for comment regarding the lawsuit [1] - A separate lawsuit was also filed against the company at the High Court on the same day, although details about this lawsuit are not provided [1]