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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.07-0.5%Dec 19 9:30 AM EST

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To: Jim Oravetz who wrote (6219)5/25/2001 9:33:12 AM
From: md1derful  Read Replies (1) of 6439
 
Jim, consider this..from today:

Mark McMinimy – Tobacco: Celebrity Class Action Likely to Generate More Smoke Than Heat
“A lottery ticket” is how one of our legal sources depicted the class action lawsuit filed by celebrity lawyers
Johnny Cochran and Michael Hausfeld earlier this week against domestic cigarette makers in federal court.
To date, federal courts have been uniformly hostile to tobacco class actions and our source said this
complaint was not likely to emerge as a “giant killer.”
The suit alleges that cigarette companies fraudulently targeted youth with ads to entice them to take up
smoking and in doing so, violated racketeering laws. It seeks to recover money that was spent on cigarettes
by under-age smokers. Like most other tobacco class actions, our expectation is that this one is likely to run
up against the problem that the diversity of the class makes it unsuitable to proceed as a class action.

have a nice weekend
doc
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