Posts tagged: Lorillard

The News Keeps Breaking Big Tobacco’s Way

Tweet Last week, Big Tobacco players Altria, Lorillard, and Reynolds American closed out a 13-year legal battle with a victory. These tobacco companies and others were sued by the city of St. Louis and 37 area hospitals for nearly $455 million in a bid to recover costs from 1993 to 2010 of treating smoking-related illnesses for patients who were unable to pay. The hospitals claimed that the industry had purposely produced an “unreasonably d ... Jump to full article >>

Lorillard CEO: No need to venture beyond cigs

Tweet RICHMOND, Va. — Lorillard Inc. CEO Murray Kessler says there’s no immediate need for the cigarette maker to venture into other forms of tobacco like its competitors. In an investor presentation on Wednesday in New York, Kessler said the nation’s third-largest cigarette maker will continue to focus on its core business. Its flagship Newport brand holds about 35 percent of the menthol cigarette market and about 10 percent of ... Jump to full article >>

Cigarette maker Lorillard 1Q profit rises

Tweet Cigarette maker Lorillard says its net income increased 7 percent in the first quarter as it sold more Newport and Maverick cigarettes at higher prices. Lorillard says it earned $248 million, or $1.71 per share, for the period ended March 31. That’s up from $232 million, or $1.50 per share, a year ago. The per-share figure was boosted by a lower number of shares outstanding. The nation’s third-biggest tobacco company says revenu ... Jump to full article >>

$17.3 million verdict against Lorillard in Jacksonville, FL

Tweet A jury awarded the family of a smoker who died of lung cancer in 1994 at the age of 63 a total of $6 million in compensatory damages. The jury assessed Lorillard Tobacco Company 65% responsibility for the death of Jacqueline Miller and 35% to Ms. Miller. This means that the compensatory damages award will be reduced by 35% while the punitive damages award will not. Therefore, Lorillard is liable for $15.2 million plus interest for the wro ... Jump to full article >>

Don’t fault tobacco firm for death

Tweet A BOSTON jury last week ordered Lorillard, the tobacco company, to pay $71 million as compensation — and another $81 million in punitive damages — for the death of lifelong smoker Marie Evans, who died of lung cancer in 2002. Evans’s son William, a Harvard-trained lawyer, claimed that Lorillard had hooked his mother on cigarettes by giving out free samples of Newports in the Boston neighborhood where she lived as a child in the 1950s ... Jump to full article >>