I will try to answer "what it means" . RE: todays Court ruling...
(btw...not sure your allusion to Judge Kaye in the Eagle case,
and today's case by Juge Becker in Ohio union vs. tobacco.
The Ohio case is much more significant than the Eagle case.
and presumably Kaye is well versed in what the other Appeals
cases are doing.and thinking..)
The judges at a higher plain, have demonstrated a consistent
view...a GREAT WALL so to speak which lower court rulings,
and plaintiff's must understand, that they will also have to
overcome. Sure...you get some verdicts favorable to the plaintiff
in the lower court. Result, initial headlines, and celebrations,
and the California effect "we will get them...those bad...evil
tobacco people....". But, in a continuing consistent ruling
at the higher level. Upon appeal, the verdicts are thrown
out, or reversed, etc....
This is not an accident. It is not the first time a higher court
has written, that "just because a defendent is unpopular, the rule
of law still applies" ! And that is point which all tobacco
investors should take heart, and use as one of the more
powerful points favoring a very large investment. I have said
before, that this is the most important point which prompted me
to personally change the course of my entire portfolio and the
other portfolios (maybe about two years ago) into Philip Morris.
(...I admit that I am biased...but my view is well known on the
thread...obviously I also applaud the Appeals court ruling)
I am interested in the Baltimre case now being held re:
Guatemala suing tobacco...a much more important implication
than the Eagle case , also, ...imho )
So...why do lawyers continue to bring suit when they see there
initial wins over turned upon appeal. Or why do class action
suits continue.
MY answer... beats the h... out of me. ! I have no idea.
Greed is a major component here.
Summary...go back say two years...the Pennsylvania court case...
or the Illinois case last year. Iowa. etc....
The Federal higher courts are consistent. And the important thing,
is that YOU CAN EXPECT CONSISTENCY at the higher court level.
That consistency is the important thing.
So...in the big picture. When you see a victory , by a plaintiff,
at the lower court. Don't spend that money just, yet. You
still have another much more difficult Wall to climb.
dk
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