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Essay / Research Paper Abstract
A 5 page paper. Tobacco companies are facing numerous lawsuits from individuals and families of persons who have died due to a tobacco-related disease. They are also in the process of making payments awarded to 46 states in 1998. This paper reports on some of the cases Philip Morris is facing. It also discusses the proposed change in the company's name and the tactics behind this change. Bibliography lists 7 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGphlmr.rtf
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Unformatted sample text from the term paper:
a court in Los Angeles awarded $3 billion in punitive damages and another $5.5 million in a variety of other damages to Richard Boeken (Brook, 2001). The order was placed
against Philip Morris. In 1999, a jury in Oregon ordered Philip Morris to pay $8-.3 million in compensatory and punitive damages to the family of Jesse Williams (Brook, 2001).
This figure was reduced to $32 million and even that amount is under appeal (Brook, 2001). Given the past history of settlements, it is likely that under the appeals cases,
Philip Morris will have the judgements decreased. Five tobacco companies were sued in Florida (Brook, 2001). In July 2000, a jury in Florida came back with an award of
$145 billion dollars for the plaintiffs (Noonan, 2000). It was a class-action suit and the trial lasted for two years (Noonan, 2000). It was the first class-action suit against the
tobacco industry that went to a jury (Noonan, 2000). It took the jury, which was comprised of one smoker, one former smoker and four nonsmokers just five hours to bring
their verdict and award to the court (Noonan, 2000). Philip Morris was one of the five defendants (Brook, 2001). In 1998, the tobacco companies negotiated a settlement with 46
states that had filed suits against them (Noonan, 2000). The amount was for $246 billion to be paid out over a 25-year term. It was intended to preclude individual lawsuits
(Noonan, 2000). Philip Morris made their most recent payment against this judgement in January 2002 (Philip Morris, 2002). The total amount paid by Philip Morris since 1998 is $9 billion
(Philip Morris, 2002). The Master Settlement Agreement signed by Philip Morris in November 1998, includes payments to the states for 25 years (Philip Morris, 2002). The agreement included
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