Tobacco Giants Won't Appeal Ruling; Trial to Start Next Week

Albanese, Elizabeth
September 2004
Bond Buyer;9/14/2004, Vol. 349 Issue 31968, p35
Trade Publication
This article reports that U.S. tobacco industry officials would not appeal last week's refusal by U.S. District Judge Gladys Kessler to postpone the date of a trial in which the federal government is seeking a $279 billion judgment. Lawyers representing both the Justice Department and tobacco companies said they are ready to begin arguments in the case on September 21, 2004. The federal government is suing the industry under the 1970 Racketeer Influenced and Corrupt Organizations Act, alleging that tobacco companies and their agents colluded to hide information about health risks associated with tobacco consumption, including cigarette smoking. In addition to a litany of other damages, the government is also seeking disgorgement of past profits generated by tobacco product sales between 1954 and 2001.


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