The Daily Chase: Big settlement for Big Tobacco [BNN Bloomberg (Canada)]
British American Tobacco Industries, p.l.c. ADR (BTI)
NASDAQ:AMEX Investor Relations:
bat.com/ir
Company Research
Source: BNN Bloomberg
would settle long-standing legal issues in Canada, with Big Tobacco poised to pay more than $32 billion to various governments and smokers themselves to settle claims they lied about the health risks of their products for decades. Parts of the legal case have been winding their way through the court system since 1998, and many of the Canadian units of tobacco companies involved have since entered bankruptcy proceedings largely because of the looming cost of this settlement. But under a plan proposed by a court-appointed mediator, they'll pay almost $25 billion to federal and provincial governments to recoup health care costs. Surviving members of two class action lawsuits in Quebec dating back to 1998 are also poised to get more than $4 billion. The exact breakdown of who will pay what to who and when depends on various stakeholders agreeing, but the plan would “resolve all Canadian tobacco litigation and provides a full and comprehensive release,” British American Tobacco said in a s
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BTI
Sec Filings
- 11/21/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/19/24 - Form 6-K
- BTI's page on the SEC website