Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 59.30

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3:40 PM EST

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To: Jim Oravetz who wrote (6428)	10/6/2006 1:54:53 PM
From: Jim Oravetz	Read Replies (1) of 6439

Supreme Court docket Philip Morris USA vs. Mayola Williams The court will be asked to clarify what business interests call the “imprecision” of punitive damages. An Oregon judge let a jury that was determining punitive damages to consider the harm cigarettes cause Oregon smokers in general, no just any harm to Williams, whose husband had died from smoking. Result: A punitive award of $79.5 million, in addition to a compensatory award of $831,485. Although the judge later cut the compensatory damages to $531,584 and the punitive damages to $32 million. Philip Morris appealed, claiming the court essentially had turned an individual case into a class action. A state appeals court panel and the Oregon State Supreme Court upheld the decision. If the U.S. Supreme Court does the same, every smoker in Oregon could sue and almost be assured a victory. Source: Barron’s October 2, pg 41

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