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.
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.
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 think Engle will either be overturned on appeal in the present court, or FL Supreme Court based on the lack of proof of reliance. The key would be getting a good enough ruling such that it would foreclose fraud class actions in the future. Its possible.