US court judgement dampens tobacco litigation risk

News

The US tobacco industry’s fortunes are burning brighter after Florida’s Third District Court of Appeal reversed the $145 billion verdict in the Engle class action case. For investors this brings some relief from litigation risk that has overwhelmed the tobacco giants Philip Morris, RJ Reynolds and BAT.

“ It is an extremely positive development for the industry,” says Bob Buhr, credit analyst at Citigroup. “The ruling could not have been stronger in terms of the fundamental problems the trial

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: