Word: tobacco
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Dates: during 1990-1999
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With the announcement last week that Liggett, the smallest of the nation's five major cigarette makers, had agreed to settle the Castano class action in Louisiana on behalf of all smokers and five state Medicaid suits against cigarette makers, the landscape of tobacco litigation underwent a seismic shift. In real dollars, the terms of the agreement--Liggett will wind up paying less than $2 million a year over the next 25 years toward antismoking programs, and will comply with proposed Food and Drug Administration rules about marketing to children--have little bite. Any capitulation, however, marks a drastic change...
...Liggett deal broke, other settlement feelers had gone out. Florida state senate minority leader Ken Jenne says that last Tuesday he was approached by Jon L. Shebel, president and ceo of the powerful Associated Industries of Florida, a lobbying group that includes Philip Morris, R.J. Reynolds and the Tobacco Institute. Shebel confirms that a conversation took place in which actual dollar amounts were bandied about. He admits that he mentioned payments of $105 million a year, "for a long time, maybe indefinitely," to settle the state's $1.4 billion lawsuit. He says he was not talking with Jenne...
...very sophisticated business transaction by Bennett LeBow." If LeBow can force a merger between Liggett and R.J.R., then R.J.R. will participate in the settlement, moving out from under the shadow of incessant litigation, boosting its stock price and enabling LeBow to split the company's food and tobacco divisions. Even if this scheme fails, LeBow tells TIME, "it was a good economic deal for us to settle...
DIED. VICTOR CRAWFORD, 63, antismoking activist; of throat cancer; in Baltimore, Maryland. In 1992 the lifelong smoker learned he had terminal cancer, and in his final months he became an eloquent crusader against tobacco. In Maryland he helped win passage of the sort of smoking restrictions he had once worked against as a lobbyist for the Tobacco Institute...
WASHINGTON, D.C.: Three former Philip Morris employees have accused the tobacco giant of manipulating nicotine in cigarettes, according to government affidavits released today. Ian Uydess, former Philip Morris senior scientist, Philip Morris' former research director William Farone, and a former Richmond., Va. plant manager told the Food and Drug Administration that Philip Morris alters nicotine levels several times in the cigarette making process. Their accusations contradict the firm's sworn testimony before Congress in 1994. Then president William Campbell denied that the company controls nicotine or that the chemical is addictive. He also said that the tobacco is never blended...