Tobacco Yields Stable as Another Class-Action Case Dies

Albanese, Elizabeth
May 2003
Bond Buyer;5/29/2003, Vol. 344 Issue 31645, p40
Trade Publication
Tobacco bond yields remained stable at recently improved levels in the mid-7 percent range on May 29, 2003 after a Massachusetts judge decertified a class-action lawsuit against Philip Morris USA Inc. and a federal judge refused to drop claims of misleading advertising against the tobacco industry included in a 289 billion dollar lawsuit filed by the U.S.Department of Justice. U.S. District Judge Gladys Kessler denied a request by tobacco manufacturers to dismiss claims related to cigarette marketing and health warnings in the government's lawsuit against major American tobacco companies. The plaintiffs in the lawsuit, all smokers of the company's Marlboro Lights cigarettes, contend that they were misled by the tobacco giant's marketing campaign to believe that light cigarettes posed less risk to their health than regular cigarettes.


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