Lorillard Must Hold $270M To Pay Damages, Judge Says

Law360, New York (January 6, 2011, 2:40 PM EST) -- A Massachusetts judge has ordered Lorillard Tobacco Co. to hold off paying dividends and to maintain at least $270 million in working capital to ensure the cigarette maker can cover damages awarded in December for a smoker’s addiction and death.

Judge Elizabeth Fahey of the Suffolk County Superior Court in Massachusetts ordered Lorillard on Wednesday to keep enough cash on hand to satisfy the $270 million in damages and interest awarded to the family of Marie Evans following a verdict finding the tobacco company liable for...
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