Word: lawsuits
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Dates: during 1990-1999
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Tobacco companies took several hard hits, but it did not matter. Richard Kluger's Ashes to Ashes, a comprehensive condemnation of the industry, was published. Liggett and Meyers settled a lawsuit--the first time ever for a tobacco company. A former Brown & Williamson executive turned whistle-blower. The life of Victor Crawford, a former tobacco lobbyist, came to an end from cancer of the throat after he used his final years valiantly lecturing about the evils of smoking. Science proved the direct link between smoking and lung cancer. The end result of such events was that smoking increased among children...
...hear him tell it, even O.J. Simpson found his recent trial testimony a trifle thin on narrative detail. "I wish I could talk more," he wistfully told bystanders in the courthouse. When the defense begins its case in the wrongful-death lawsuit this week, Simpson and his lead attorney, Robert Baker, will have ample opportunity to expand on their version of the relationship between the defendant and his ex-wife Nicole and to explain in O.J.'s own words where he was and what he was doing the night she and Ronald Goldman were killed...
Angry now, O'Keefe filed his lawsuit. This time Loewen dispatched a top executive, John Turner, currently working for SCI, to settle the lawsuit. Turner, in an offer so appealing it just about stunned O'Keefe, proposed to sell O'Keefe the Riemann family's insurance company, which was like offering to sell the Hatfield homestead to a McCoy...
...lawsuit had an unexpected aftershock. It depressed the value of Loewen's stock. It also forced the company to issue substantial amounts of new stock, thereby diluting Ray's holdings from 20% to 15%. Both developments made the company more vulnerable to attack. On Sept. 17, SCI announced it was offering to acquire Loewen. After Loewen's board rejected the bid, SCI recast it as a hostile takeover, this time for $45 in stock for each Loewen share, for a total value that Loewen and SCI estimate to be more than $4.2 billion...
...cemetery. The ftc has demanded company records to try to gauge the probable effect in states where both companies have a large, overlapping presence. Loewen says nine states, including Florida, have notified the company that they plan their own antitrust reviews. And Loewen itself has filed a defensive federal lawsuit against SCI, arguing that the merger would sharply reduce competition in dozens of cities and towns from Anchorage to Brooklyn, New York. Even SCI has announced that a successful combination would doubtless require the divestiture of some properties...