Reynolds American Inc.’s R.J. Reynolds Tobacco unit lost its bid to overturn jury verdicts over smoking-related deaths after arguing that federal courts shouldn’t apply a ruling by the Florida Supreme Court that made it easier for smokers to prove their cases.
Florida’s Supreme Court declined to hear R.J. Reynolds Tobacco Co.’s appeal of a $28.3 million verdict in a case that the cigarette maker argued may affect thousands of so-called Engle tobacco claims in the state.
Analysts predict Goldman Sachs Group Inc. will pay $1 billion or more to settle a Securities and Exchange Commission fraud suit that triggered a 26 percent drop in the firm’s stock, Bloomberg News’s Jesse Westbrook and David Scheer report. Extracting such a record-setting penalty may be easier said than done.
A Florida jury ruled that R.J. Reynolds Tobacco Co., the second-biggest U.S. cigarette maker, should pay $30 million to a woman whose husband died of lung cancer after years of smoking, according to a lawyer.
U.S. cigarette makers led by Philip Morris USA and R.J. Reynolds Tobacco Co. have been on the losing end of recent Florida state court trials, where smokers and their families have won 14 of 15 verdicts and more than $200 million in damages over the past year.