13th Jul 2026 12:04
(Alliance News) - British American Tobacco PLC is being sued by investors over allegations it failed to inform the stock market about its operations in North Korea, The Times reported Sunday.
City investors have filed High Court claims against the London-based cigarette and nicotine product maker, with ReAssure, part of Standard Life PLC, and Aberdeen Group PLC, among a group of investors to have launched a claim.
London-based law firm Stewarts is representing the investors.
British American Tobacco said to The Times: "BAT is aware that proceedings have been commenced in the High Court that relate to BAT's historical business activities in relation to North Korea. The claims relate to the same historic activities that resulted in the 2023 agreement BAT reached with the [US] Department of Justice and [the] Office of Foreign Assets Control but are separate and unconnected legal proceedings.
"Under the agreement, BAT cannot make any comment on the documentation published by the investigating authorities, the contents therein, or on related factual matters."
BAT, which is behind Vuse and Pall Mall among other brands, in 2023 had agreed to pay USD635 million to US authorities over an alleged breach of sanctions against North Korea.
BAT shares fell 1.3% to 4,405.00 pence each on Monday around noon in London. In Johannesburg, its shares were down 1.5% to ZAR963.00 each.
By Tom Budszus, Alliance News slot editor
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