The U.S. Supreme Court dealt a legal blow Altria Group and the tobacco industry Monday by ruling that tobacco companies can be sued for marketing “light cigarettes.”
The 5-4 ruling allows a lawsuit against Altria by a Maine consumers group to proceed. The group argues that labeling cigarettes “light” was a deceptive advertising practice to make them appear safer.
Altria argued that federal labeling laws preempted state laws, but the court’s decision said the company was not protected from the lawsuit under the federal labeling regulations. The court did not rule on merits of the case against Altria.
I remember a similar type law suit against UST and it was around $19 per share with a then 10% yield. It was a very good 7-8 year enjoyment of the dividend and I recently sold the stock for $68.50. Not a bad investment. I like MO here as well.
--ric of Syracuse New York
Dec. 16, 2008 at 12:43 PM