ABC News: $100M settlement for hundreds in Florida tobacco lawsuits

Under the deal, R.J. Reynolds and Richmond, Virginia-based Philip Morris would each pay $42.5 million and Lorillard, based in Greensboro, North Carolina, would contribute $15 million. (Source: ABC News)

 

From ABC News: A $100 million settlement has been reached between three major tobacco companies and hundreds of people who sued them for smoking-related deaths and illnesses in Florida federal court.

The tentative agreement announced Wednesday involves R.J. Reynolds Tobacco Co., Philip Morris USA Inc. and Lorillard Tobacco Co.

The deal resolves about 400 cases pending before a federal judge in Jacksonville, Florida, but does not affect thousands of other lawsuits pending in Florida state courts.

For the complete story: http://abcnews.go.com/US/wireStory/100m-settlement-hundreds-florida-tobacco-lawsuits-29214507

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