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Georgia Supreme Court Ruling: No Additional Lawsuits

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At a glance:

A Georgia Supreme Court Ruling is seen as an important precedent for a pending Florida case.
 
The Georgia court ruled that a settlement in 1998 precluded state residents from pursuing additonal lawsuits for punitive damages for tobacco use.
 
However the suit is still active in Federal court.

Georgia Supreme Court Ruling Seen Aiding Tobacco Cos >RAI

newratings.com - 3/15/2006 11:39 AM

The Georgia Supreme Court ruled earlier this week that the industry's 1998 Master Settlement Agreement precludes residents of that state from seeking punitive damages related to tobacco use.
 
The Monday ruling in the case known as Gault also "increases the prospect that other states will reach a similar conclusion, which would obviously reduce legal risk elsewhere," said Morgan Stanley analyst David Adelman.
 
It bodes well for the Florida Supreme Court to uphold an appellate court's ruling that threw out $145 billion in punitive damages against the five largest cigarette companies in the case known as Engle, A.G. Edwards analyst Christopher Growe said in a note to clients that reiterated a buy rating on Altria Gro
 
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