Canada’s Supreme Court said today it won’t hear appeals by six foreign tobacco companies that had argued Ontario doesn’t have jurisdiction to claim health-care costs from them. Lower courts had ruled the province does have the right to claim costs from the companies including British American Tobacco Plc and R.J. Reynolds Tobacco Co. for treating tobacco-related illnesses.
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.
R.J. Reynolds Tobacco Co. must pay $29.1 million to Connie Buonomo, the widow of a Florida man who started smoking at age 13 and died of chronic obstructive pulmonary disease in 2008, a jury in Fort Lauderdale said.
The U.S. Supreme Court let stand a $20 million award against R.J. Reynolds Tobacco Co. and a second cigarette maker, rebuffing the tobacco industry’s latest effort to derail thousands of Florida suits.