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Reynolds American Inc. Message Board

  • riley200834 riley200834 Jun 28, 2010 10:37 AM Flag

    us court rejects tobacco appeals?

    and the stock goes up???????????????????

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    • Yes; with the S.C. rejecting both sides of the arguments, the tobacco companies do not have to pay the $ billions of allegaed past profits or fund anti-smoking campaigns (see last paragraph below, extracted from A.P. article on this topic). Hence, share prices rose on this news.

      "The Supreme Court has rejected appeals by the Obama administration and the nation's largest tobacco companies to get involved in a legal fight about the dangers of cigarette smoking that has stretched more than 10 years.

      The court's action, issued without comment Monday, leaves in place court rulings that the tobacco industry illegally concealed the dangers of smoking for decades. But it also prevents the administration from trying to extract billions of dollars from the industry either in past profits or to fund a national campaign to curb smoking."

69.47-1.13(-1.60%)Mar 30 4:03 PMEDT