SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.07-0.5%Dec 19 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: md1derful who wrote (6344)9/23/2002 9:09:59 AM
From: md1derful  Read Replies (3) of 6439
 
Here's some take on the recent price wweakness

Mark McMinimy – Tobacco: Certification of Nationwide Tobacco Class Not Likely to Stand
Late last week, U.S. District Court Judge Jack Weinstein certified a nationwide class action for punitive
damages against domestic cigarette makers. The class consists of all U.S. smokers who have been diagnosed
with tobacco-related injuries since April of 1993 except for Florida residents who are covered under Engle v.
R.J. Reynolds. The action weighed heavily on the share prices of defendant companies on Friday.
Defendants include Philip Morris (MO 43)², R.J. Reynolds (RJR 47), Lorillard (LTR 46), Brown &
Williamson (BTI 22), and Liggett (VGR 13.40).
The bottom line is that this class action represents a new and potentially formidable financial threat to
cigarette makers, but it probably will not stand for very long.
Our understanding is that the tobacco company defendants have 10 days to file an expedited appeal over
Judge Weinstein's decision to the 2nd Circuit Court of Appeals. Without knowing which judges may review
such a decertification appeal, the initial view of our legal experts is that the 2nd Circuit will likely move to
decertify the class, thereby eliminating a potentially potent financial threat to the tobacco industry.
If so, the plaintiffs would very likely appeal such a decertification decision to the U.S. Supreme Court, but
we think it most unlikely that the high court would grant a review.

Might me an interesting trade or two at these levels
doc
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News