Court Rejects $145 Billion Tobacco Suit; RJ Reynolds Stock Shoots Up...
The Florida Supreme Court on Thursday rejected a $145 billion punitive damage award against tobacco companies for injuring smokers, saying it was excessive. It was the largest award ever by an American jury,
The justices also approved an appellate court ruling that it had been a mistake to certify a class-action lawsuit representing an estimated 300,000 to 700,000 ill Floridians. The class certification resulted in the jury award in 2000. The industry argued each smoker should have to file a separate suit.
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