POST Online Media Lite Edition



 

Montana Attorney General Fox announces record settlement with tobacco companies

Christian Fernsby |
Attorney General Tim Fox announced Montana will recover all funds wrongfully withheld from the state by tobacco companies under the 1998 Master Settlement Agreement (MSA), as well as a premium and protection for Montana’s future MSA payments.

Article continues below




Under Fox’s direction, the Department of Justice took on the largest tobacco companies for wrongfully withholding $3 to $4.5 million from Montana each year from 2006 through the present under the MSA.

The settlement will return more than $49 million to the Tobacco Trust, Children’s Health Insurance Program, critical public health programs, and, as per statute, a percentage to the State General Fund. The settlement will also generate nearly $10 million for the General Fund and protect Montana from the tobacco companies’ withholding owed funds in perpetuity.

Importantly, Fox obtained the tobacco companies’ waiver going forward of any right to recover the approximate $4.5 million per year through 2030, protecting forever an additional estimated $55 million. Consequently, the value of this settlement to Montana through 2030 and beyond is well over $100 million.

“I am pleased to achieve immediate payment of the funds rightfully due Montana and forever protect the remedy struck over twenty years ago when Montana entered into the Master Settlement Agreement,” Attorney General Tim Fox said.

“Montana needs these resources now more than ever to pursue its work in smoking prevention and cessation, help the disabled and seniors, fund critical public health programs, and insure Montana’s children through the Children’s Health Insurance Program. This is an historic settlement no other state has been able to accomplish,” Fox added.

Montana was previously forced by the tobacco companies to individually litigate these wrongfully withheld payments for the years 2003 and 2004. Montana received full payment after the defendants conceded, but only after substantial cost and effort.

In 2018, the state’s lawyers discovered the tobacco companies had overwhelming evidence that Montana had completely and faithfully complied with the MSA yet had jointly agreed to withhold 10% or more of each of Montana’s annual payments under pretense.

As a result of the conspiracy and wrongful withholdings, the tobacco companies deprived Montana of more than $49 million owed dating back to 2005.

After Montana discovered these highly profitable and cash-rich companies had acted in bad faith, it filed this lawsuit, now resolved by this settlement.

The case was settled while on appeal to the Montana Supreme Court by the tobacco companies. The Montana Supreme Court previously ruled that Montana’s enforcement of MSA can be litigated only in Montana court, a ruling — like today’s groundbreaking settlement — no other MSA state has been able to achieve.

The tobacco companies sought again in the current case to have Montana’s claims arbitrated nationally in an expensive forum far from Montana rather than face a Montana jury.

District Court Judge Mike McMahon agreed with the state that the case should be tried in Montana, and the tobacco companies appealed his ruling. As part of the settlement, the tobacco companies have agreed to withdraw that appeal; in doing so, the district court opinion stands.


What to read next

US settles antitrust charges with Fox, CBS, Scripps, Cox, Tegna
NCR to end litigation and complete massive superfund cleanup at Wisconsin’s Fox River
Fiat Chrysler agrees to pay $800m to settle emissions cheating case

500,000 UK employees strike

 
Half a million worker are on strike in what is the biggest day of industrial action in more than a decade today.
 
 

Latest

CP Q4 revenues $2.46 billion
TotalEnergies starts its fourth solar power plant in Japan
UK house prices continued to fall in January
Webb telescope catches early galaxy formation in action

NEWS

Fire put out at South Korea's space centre during test for next generation space rocket

Submarine volcano erupts in Vanuatu
UK faces fresh mass strikes
Reported death toll due to bad weather 44 in Philippines
After 1,400km long search missing radioactive capsule from Rio Tinto found in Australia
U.S.: Dangerous ice storm for portions of south
 

BUSINESS

Mayor Lightfoot celebrates completion of Terminal 5 at O’hare International Airport

Sustainable Energy Fund for Africa grant to drive electric mobility shift in 7 African countries
Battery-only electric passenger cars: +76% in Europe in 2021
UK drivers warned to keep eye on pump prices
Biden presents work on Baltimore tunnel, 72,000 new jobs expected
2022 Corruption Perceptions Index: Corruption levels remain at standstill
 

Trending Now

Sustainable Energy Fund for Africa grant to drive electric mobility shift in 7 African countries

Mayor Lightfoot celebrates completion of Terminal 5 at O’hare International Airport

South Africa authorises roll out of COVID-19 boosters to fight Omicron variant

After 1,400km long search missing radioactive capsule from Rio Tinto found in Australia


POLITICS

UK ready to boost CPTPP’s economic clout, says Trade Minister on Asia-Pacific visit

Commission approves €1.6 billion Romania measure to capitalise new investment and development bank
UK Government backing helps launch world first self-driving bus
Commission approves €104 million Croatian scheme to support energy-intensive companies
Canada invests in BHP project to develop world-leading low-emissions potash mine
New York: Over $22 million awarded in Round XII of Regional Economic Development Council Initiative
 

Today We Recommend

Biofertilizers market to surpass $5.71 billion


Highlights 

Novartis Q4 income declined 91 percent

GM and Lithium Americas to develop U.S. lithium production through $650 million deal

Biden presents work on Baltimore tunnel, 72,000 new jobs expected


COMPANIES

HVS awarded share of £6.6m government funding to develop world’s first self-driving hydrogen HGV

GM and Lithium Americas to develop U.S. lithium production through $650 million deal
Dole announces sale of its fresh vegetables division to Chiquita subsidiary Fresh Express
ExxonMobil awards FEED for world’s largest low-carbon hydrogen facility
Metronet begins construction of Daytona’s multi-gigabit 100 percent fiber optic network, will hire
Boeing to deliver last 747
 

CAREERS

Exothera appoints Darren Leva as chief business officer

Vesta taps Shimon Steinmetz as CFO
Bruno Ultra Barcelos appointed managing director of Ethypharm UK
Syntach names Patrick NJ Schnegelsberg as new CEO
Chiesi appoints Giuseppe Accogli as new group CEO
Foresters Financial Canada president Henry Auyeung to retire
 

ECONOMY

Italian economic growth stronger than expected in 2022

UK shop prices record high, peak still to come
GDP up by 0.1% in euro area and stable in EU
Portuguese economy sees fastest growth for 35 years in 2022
Canada's real GDP edged up 0.1% in November
Hungary: Economic sentiment ticks up in January
 

EARNINGS

Caterpillar Q4 profit decreases

Novartis Q4 income declined 91 percent
GSK Q4 profit climbs
Phillips 66 Q4 earnings $1.9 billion
McDonald's Q4 profit increases
Pfizer Q4 profit increases
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Ukraine opens Canadian, Serbian markets for export of livestock products since year beginning

Egypt intends to buy more wheat from Russia, working on system to pay in rubles
Rosselkhoznadzor stopped shipment of infected oats from Irkutsk to Mongolia
Philippines: ORION Program targets to perk up onion industry, increase domestic supply
Belarus lifts restrictions on food exports to neighboring EU countries
Argentina added new market: Algeria enabled export of meat with bone
 

LEADERSHIP

Lucky CEO means bad luck for hiring company

Product images could boost food pantry use
The madness of fast service: I want it now!
How to build a resilient brand
Only 32% of employees believe their pay is fair
Corporate duty waivers limit organic company growth and innovation
 

CRIME

AG for District of Colubia: $1,950,000 available for eligible Drizly drivers as result of tip-theft investigation

North Carolina: 52 stores pay fines for price scanning errors in 33 counties
EAO issued third fine for Coastal GasLink project
Dutch central bank fines cryptocurrency exchange Coinbase 3.3 mln euros
Bloomberg to pay $5 million for misleading disclosures about its valuation methodologies for fixed income securities
Italy fines Yoox with over 5 million euro for misleading prices and limitations of right of withdrawal
 

Magazine

TRAVEL

La Chandeleur in Paris: Crêpe Day for all of you

Tru by Hilton Monterrey Fundidora hotel opens in Mexico
IntercityHotel Berlin Airport BER opens
Art After School, the perfect way to spark imagination in your child
The world's biggest food fair in Berlin you don't wanna miss
Largest antiques show comes to small Texas town
 

SEA, LAND, AIR

Honda Pilot TrailSport, fully equipped SUV with great ground clearance

2024 Corvette E-ray, electrified 4WD
Jaguar I-PACE is now more distinctive
2023 Toyota Prius expected this January
2023 Lincoln Corsair, advance features and ActiveGlide
Lamborghini Huracán Sterrato, first super sports car for any terrain
 

DESIGN

Curved sofas, elegant and gentle

Solios watches, from nature to luxury
Coats of faux fur, but not of faux style
Redifining kitchen space and experience with workstations
Dinning sofas, a soft addition to a modern dinning table
Patchwork carpets, vintage Persian carpets made with unparalleled skill
 

GADGETS

Harman Luxury Audio introduces new JBL Classic Series

KEF KC62, audio excellence and design ingenuity
Panasonic announces flagship OLED TV MZ2000
McIntosh MC451, 150 Watt vacuum tube and 300 Watt solid state amplifier
Headonia 2A3, luxury headphone amplifier that comes with gloves
ASUS launches ExpertBook B9 for executives
 

HEALTH

South Africa authorises roll out of COVID-19 boosters to fight Omicron variant

FDA approves Orserdutm for patients with advanced or metastatic breast cancer
Indonesia to start rolling out COVID-19 vaccination for children under 6
Ipsen receives CHMP negative opinion for Palovarotene as treatment for fibrodysplasia ossificans progressiva in EU
Once-daily Sotyktu gets positive opinion as treatment for adults with moderate-to-severe plaque psoriasis
EMA update on shortages of antibiotics in EU
 

MEANTIME

Straigh and gay men both prefer masculine men for important jobs

Green comet to visit Earth after 50,000 years
Astronomers captured spectacular, ongoing collision between at least three galaxy clusters
NASA system predicts small asteroid to pass close by Earth this week
NASA, Pentagon developing nuclear-powered rocket for Mars
Milky Way found to be too big