Lawyers for the plaintiffs
announced today that RJ
Reynolds, Lorillard, and
Altria' Group's Philip
Morris USA have agreed
to pay $100M to settle
hundreds of federal
lawsuits over smoking.
Seems like they may have
gotten off fairly easily,
all things considered....
NBC News: Tobacco Companies Settle Lawsuits for $100 Million
As the article opens with
"Never underestimate
the staying power of Big
Tobacco..." In 2007, the
Tobacco giants were
ordered to create and
publish ads that admitted
that they lied about the
dangers of tobacco. These
so called "Corrective
Statements" are to appear
in print, on TV, on websites
and in cigarette packs.
Big Tobacco is back in court
to fight this admission of guilt.
The preamble to the ads are to
say a "federal court has ruled
that Altria, R.J. Reynolds
Tobacco, Lorillard & Philip
Morris USA deliberately
deceived the American public."
Remember, those guys have
never been in it for our health...
This article is by Pete Yost.
YAHOO: Tobacco Giants Resist Harsh Public Admissions
Since this article posted, the
merger has been okayed.
This article by Michael J.
De La Merced and Chad Bray
follows tobacco titans #2
Reynolds American (Camels)
and #3 Lorillard (Newports);
as they discuss a potential
$27 billion merger that would
make them more competitive
towards #1 rival, the Altria
Group, home of Marlboro.
Big Tobacco is getting bigger...
NY Times: Reynolds in Talks to Acquire Lorillard in Merger of Tobacco Rivals
