Tobacco firms to pay $23.6bn in proposed Canada settlement [Yahoo! Finance]
British American Tobacco Industries, p.l.c. ADR (BTI)
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Source: Yahoo! Finance
fight in Canada to hold the firms to account for hiding the health risks of tobacco. Philip Morris, British American Tobacco and Japan Tobacco would pay C$32.5bn (£18bn; $23.6bn) to smokers and health departments in Canada under the terms of a settlement put forward by a court mediator. The proposal comes nearly 10 years after a Quebec court in 2015 ruled that the companies were long aware of the links between cigarettes and cancer but failed to warn their customers. The landmark decision led the companies to place their Canadian operations in bankruptcy, kicking off years of negotiations. How much each company must pay is still being discussed, according to Philip Morris. "Although important issues with the plan remain to be resolved, we are hopeful that this legal process will soon conclude," said Jacek Olczak, chief executive of Philip Morris, which operates in Canada under the name Rothmans, Benson & Hedges. In announcing the deal, the Quebec Council on Tobacco & Healt
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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