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Altria Group Inc. Message Board

  • bestimmt bestimmt Apr 8, 2003 4:32 PM Flag

    Good long term out of lawsuits

    Its entirely possible that we'll get a few good appealate rulings out of the FL and IL cases regarding the requirements for proof of reliance in fraud class actions. A similar thing happened in the suits against handguns, which effectively foreclosed class actions in those cases. If we get a few good rulings on appeal, we could be talking about the death of the class action in tobacco.

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    • So long as you're long term it should be ok. I think today's rulings, combined with Byron's statements about not moving against Altria or PM Intn'l paint a positive picture for the first time in weeks. Today is the first time I've thought that bankruptcy was no longer in the cards since this started.

    • I understand that there is a lot of legal posturing going on a certain extent it is a game of chess...unfortunately delays cause uncertainty which cause the stock price to decline

      It would be nice to get good news from Engle tomorrow ahead of Byron's decision

    • Not positive. I think he has to rule before the 30 day stay he issued lapses. Not sure legally though - would have to research IL law. MO may miss the deadline, but remember that it takes time for the states to file suit, and for that suit to come before a court. Month at least. MO could skip payment, get sued, get the bond reduced, then make the payment, perhaps with interest. States may be miffed, but I bet they're happy to get their money.

    • I agree. We could hear from Engle at any time and I believe if we can negotiate a reasonable bond for the Miles appeal, things could start looking a little better

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