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My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.

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Judge Certifies Class-Action Lawsuit of "Light Cigarette" Smokers





Bad for my Altria (MO) holding, but is this a buying opportunity for Altria or Reynolds (RAI)?

From WSJ:

A federal judge's decision to grant class-action status to tens of millions of "light cigarette" smokers exposes major tobacco companies to a new $200 billion claim for damages and will delay an expected plan by Philip Morris USA parent Altria Group Inc. to spin off its Kraft Foods Inc. unit.

U.S. District Judge Jack Weinstein in Brooklyn, N.Y., made the pretrial ruling Monday in a 2004 lawsuit alleging that Philip Morris USA, Reynolds American Inc.'s R.J. Reynolds Tobacco Co., and Loews Corp.'s Lorillard Tobacco unit, among others, falsely marketed "light" and "low-tar" cigarettes as a lower-risk alternative to conventional higher-tar smokes.

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