March 10 (Reuters) - The Chicago mayor's office said on Friday a $23.8 million settlement has been reached with Juul Labs Inc over claims that the e-cigarette maker deceptively marketed its products and for selling vaping products to underage users. In the settlement, Chicago said Juul has denied and continues to deny any wrongdoing and liability in connection with the design, manufacture, production, advertisement, marketing, distribution, sale, use, and performance of its products. According to the settlement, the company has agreed to pay the city $2.8 million within 30 days of the execution of the agreement. Chicago would receive an additional $21 million payment later this year under the current schedule and may potentially receive up to $750,000 additional, court-awarded payments, the Chicago mayor's office said. Altria Group Inc (MO.N), which had a stake in Juul valued at $12.8 billion in 2018, on Monday exchanged its investment in Juul, last valued at $250 million, for some of the vaping company's heated tobacco intellectual property.

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