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Subject: Philip Morris Hit With $10.1B Verdict in Illinois Case Author: defendant x [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 23:35:20 03/21/03 Fri Philip Morris Hit With $10.1B Verdict in Illinois Case Friday, March 21, 2003 08:41 PM ET Printer-friendly version EDWARDSVILLE, Ill. -- A judge in Madison County, Ill., ordered Philip Morris USA Inc. to pay $10.1 billion in a class-action lawsuit that claimed the tobacco giant misled smokers about the dangers of light cigarettes. Judge Nicholas Byron ruled the unit of Altria Group Inc. (MO, news) should pay $7.1 billion in compensatory damages to smokers and $3 billion in punitive damages to the state of Illinois. The company was also ordered to pay $1.78 billion in attorneys fees. The plaintiffs, made up of nearly 1.1 million Illinois smokers, were seeking $7.1 billion in compensatory damages and $14.2 billion in punitive damages. In a statement, Philip Morris said it will appeal Friday's ruling and the class-certification order that preceded it. Philip Morris vice president and associate general counsel William S. Ohlemeyer condemned the verdict and said in a statement the company will seek relief from the requirement that it post a $12 billion bond as the appeal proceeds. The judge has stayed the entry of judgment for 30 days. Mr. Ohlemeyer said the issues in the case are governed by federal laws and regulations, and "it is not appropriate for a state judge to substitute his judgment on these issues for those of the Congress and the U.S. Federal Trade Commission." One of the plaintiff law firms, Richardson, Patrick, Westbrook & Brickman LLC, said in a statement the evidence showed Philip Morris "concealed crucial research data revealing the detrimental effects of light cigarettes for more than 30 years." The law firm said it will try similar class-action cases pending in Illinois against R.J. Reynolds Tobacco Holdings (RJR, news) and British American Tobacco PLC's (BTI, news) Brown & Williamson. The case against R.J. Reynolds is set for trial on Oct. 21. Earlier this week, the Justice Department made a $289 billion claim against five major tobacco companies, including Philip Morris, alleging the industry deceived consumers about the dangers of smoking. -Ralph Tasgal; Dow Jones Newswires; 201-938-5400 Dow Jones Newswires 03-21-03 2041ET Copyright 2003 Dow Jones & Company, Inc. All Rights Reserved [ Next Thread | Previous Thread | Next Message | Previous Message ]