JPMorgan Chase & Co. is preparing to pay $13 billion to end U.S. civil probes of its mortgage-bond sales, an amount that ranks among the largest settlements by a single company and dwarfs fines previously imposed by the Justice Department. Past accords include:
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.
An arbitration panel found that New York upheld obligations to tobacco firms under a landmark settlement, rejecting part of a challenge by the companies in which they sought to reduce their payments, the state attorney general said.
R.J. Reynolds Tobacco Co. was ordered to pay Vermont $8.3 million by a state-court judge who ruled that the company violated consumer-protection laws by stating that its Eclipse cigarette brand reduced health risks.
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.
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.
Star Scientific Inc. tumbled the most in two years after losing a bid for a new trial in its decade-long effort to extract patent royalties from Reynolds American Inc. on way to reduce carcinogens in cigarettes.