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Latest Altria Group Stories

2005-12-15 10:14:25

CHICAGO (Reuters)- The Illinois Supreme Court on Thursday reversed a $10.1 billion verdict against Philip Morris USA, with instructions to dismiss the class action against the unit of Altria Group Inc. The ruling in the case, in which Philip Morris was accused of defrauding customers into thinking "light" cigarettes were safer than regular smokes, sent Altria shares up more than 5 percent. The case has been closely watched not just because of the size of the ruling, but because it...

2005-12-15 10:09:12

CHICAGO (Reuters)- The Illinois Supreme Court on Thursday reversed a $10.1 billion verdict against Philip Morris USA, with instructions to dismiss the class action against the unit of Altria Group Inc. The ruling in the case, in which Philip Morris was accused of defrauding customers into thinking "light" cigarettes were safer than regular smokes, sent Altria shares up more than 5 percent. The case has been closely watched not just because of the size of the ruling, but because it...

2005-10-17 12:19:17

By Peter Kaplan WASHINGTON (Reuters) - The U.S. Supreme Court on Monday handed cigarette makers a victory, rejecting a Justice Department appeal aimed at allowing a potential $280 billion penalty in the government's landmark racketeering case against the industry. Without comment, the justices denied the request to review a U.S. appeals court ruling that barred the government from seeking $280 billion in past tobacco profits as a legal remedy for decades of alleged fraud by the...

2005-10-17 09:19:11

WASHINGTON (Reuters) - The U.S. Supreme Court rejected on Monday the government's appeal aimed at reinstating a potential $280 billion penalty in its landmark racketeering case against cigarette makers. Without comment, the justices denied a request by the Justice Department to review a U.S. appeals court ruling that barred the government from seeking $280 billion in past tobacco profits as a legal remedy for decades of alleged fraud by the tobacco industry. Targeted in the lawsuit...

2005-10-17 09:17:01

WASHINGTON (Reuters) - The U.S. Supreme Court rejected on Monday the government's appeal aimed at reinstating a potential $280 billion penalty in its landmark racketeering case against cigarette makers. Without comment, the justices denied a request by the Justice Department to review a U.S. appeals court ruling that barred the government from seeking $280 billion in past tobacco profits as a legal remedy for decades of alleged fraud by the tobacco industry. Targeted in the lawsuit...

2005-09-30 16:35:00

By Jeffrey Hodgson TORONTO (Reuters) - Rothmans Inc. stock sank as much as 11 percent on Friday after Canada's top court cleared the way for provinces to sue the tobacco industry, but shares of foreign-owned tobacco firms shrugged off the ruling. The unanimous Supreme Court ruling, announced Thursday, will allow Canadian provinces to make claims for health costs of smoking that could total tens of billions of dollars. The case dealt with a British Columbia law -- the first of its kind in...

2005-09-30 07:05:00

OTTAWA -- The Supreme Court of Canada on Thursday unanimously upheld the right of provinces to sue the tobacco industry for the health costs of smoking, clearing the way for claims that could total C$80 billion. The case dealt with a British Columbia law -- the first of its kind in Canada -- that allowed suits like those filed in the 1990s by U.S. states. The U.S. suits ended in settlements totaling more than $240 billion to be paid over 25 years. But because Canadian provinces pay for...

2005-09-29 15:48:46

WASHINGTON (Reuters) - The U.S. Supreme Court is scheduled to consider at an October 14 conference whether to hear the government's appeal to reinstate a potential $280 billion penalty against cigarette makers, according to a posting on the court's Web site Thursday. The U.S. Court of Appeals for the District of Columbia Circuit in February barred the government from seeking past tobacco profits as a legal remedy for decades of alleged fraud by the tobacco industry. The decision...

2005-09-29 17:26:43

By Randall Palmer OTTAWA (Reuters) - The Supreme Court of Canada on Thursday unanimously upheld the right of provinces to sue the tobacco industry for the health costs of smoking, clearing the way for claims that could total C$80 billion. The case dealt with a British Columbia law -- the first of its kind in Canada -- that allowed suits like those filed in the 1990s by U.S. states. The U.S. suits ended in settlements totaling more than $240 billion to be paid over 25 years. But...

2005-09-29 15:05:00

OTTAWA (Reuters) - The Supreme Court of Canada on Thursday unanimously upheld the right of provinces to sue the tobacco industry for the health costs of smoking, clearing the way for claims that could total C$80 billion. The case dealt with a British Columbia law -- the first of its kind in Canada -- that was modeled on cases filed in the 1990s by U.S. states, which resulted in settlements totaling more than $240 billion to be paid over 25 years. But because Canadian provinces pay for health...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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