Small Tobacco Manufacturers File Appeal Challenging MSA

Albanese, Elizabeth
December 2004
Bond Buyer;12/9/2004, Vol. 350 Issue 32026, p32
Trade Publication
The article reports that New York-based tobacco manufacturer Freedom Holdings Inc. and other small tobacco manufacturers filed the 2003 lawsuit against New York Attorney General Eliot Spitzer and Commissioner of Taxation and Finance Arthur J. Roth. They want the appeals court to rule the Master Settlement Agreement (MSA) illegal because they say it violates anti-trust law. The U.S. Court of Appeals for the Second Circuit is scheduled to bear oral arguments in the appeal the week of January 16, 2005. Under the MSA, participating tobacco companies will pay 46 states $205 billion over a period of no less than 25 years as compensation for the cost of caring for indigent smokers with health-related illnesses.


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