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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Altria Group Inc | NYSE:MO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.07 | 0.16% | 43.89 | 44.21 | 43.825 | 44.00 | 6,407,761 | 20:57:30 |
The United States Supreme Court today declined plaintiffs’ petition for review in the Price case, bringing this long-running case to a close.
In 2015, plaintiffs in the Price case failed to persuade the Illinois Supreme Court to reinstate a multi-billion dollar judgment against Philip Morris USA (PM USA). Thereafter, plaintiffs petitioned the U.S. Supreme Court, asking that Court to order the recusal of one of the Illinois Supreme Court justices.
“Today’s action by the U.S. Supreme Court effectively ends this case once and for all,” said Murray Garnick, Altria Client Services senior vice president and associate general counsel, speaking on behalf of PM USA. “Almost 10 years ago this case was dismissed against Philip Morris USA, and, after countless hearings, motions and legal maneuvers by the plaintiffs to reinstate judgment, the outcome remains the same.”
The Price case began in 2000 and alleged that PM USA deceived Illinois smokers who purchased Marlboro Lights and Cambridge Lights cigarettes. The plaintiffs sought a refund of a portion of the purchase price. After a three-month trial in 2003, a Madison County Circuit Court judge imposed a $10.1 billion judgment against PM USA. Plaintiffs since then have pursued multiple legal strategies in support of the judgment. The Illinois Supreme Court, however, overturned that judgment in 2005 and reaffirmed its decision in 2015.
The case is Price v. Philip Morris Incorporated, case number 15-947.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160620005893/en/
Philip Morris USAMedia Relations, 804-484-8897
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