Tobacco companies to settle smoking lawsuits for $100 million
By Jessica Dye NEW YORK (Reuters) – Three major U.S. tobacco companies including R.J. Reynolds Tobacco Co, Lorillard Inc and Altria Group’s Philip Morris USA will pay $100 million to settle hundreds of federal lawsuits over smoking, according to an announcement from plaintiffs’ lawyers on Wednesday. The agreement will cover more than 400 lawsuits filed in federal court in Florida by smokers or their families, according to the announcement. Philip Morris and R.J. Reynolds will each pay $42.5 million, and Lorillard will pay $15 million, according to a lead lawyer for plaintiffs, Joe Rice of law firm Motley Rice.
