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Article

31 Mar 2009

Author:
James Vicini, Reuters

U.S. top court dismisses Philip Morris appeal

The U.S. Supreme Court dismissed an appeal by Altria Group Inc's Philip Morris USA over $79.5 million in punitive damages awarded to the widow of a longtime Oregon smoker. The top court did not decide the merits of the dispute, but in a one-sentence ruling on Tuesday dismissed the appeal as "improvidently granted."... Morningstar analyst Phil Gorham...said the case should remind investors that tobacco companies are still subject to product liability lawsuits...