Missouri Nets $50M On Big Tobacco Arbitration Reversal

Law360, New York (May 02, 2014, 7:29 PM ET) -- A Missouri judge on Friday prevented the state from losing a roughly $50 million share of the massive 1998 government settlement with Big Tobacco, overturning a "clearly erroneous" arbitration ruling that shifted payouts to other states based on their tax collection efforts against discount cigarette manufacturers.

Missouri Circuit Court Judge Jimmie M. Edwards sustained a challenge to an arbitration panel's decision to cut Missouri’s settlement payments for the 2003 year by $70 million in favor of states that were found to have diligently enforced the so-called...
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