Tobacco Cos. Settle Smuggling Claims For $550M

Law360, New York (April 13, 2010, 7:13 PM EDT) -- The Canadian government said Tuesday it had secured a combined CA$550 million ($549 million) in settlements from tobacco companies R.J. Reynolds Tobacco Co. and JTI-MacDonald Corp. in efforts to put to rest claims that the companies participated in cigarette smuggling efforts in Canada in the 1990s.

The comprehensive settlement agreement with Canadian federal, provincial and territorial governments will bring to a close actions against the tobacco manufacturers over an alleged scheme to produce cigarettes, export them and smuggle them back into Canada without paying proper taxes...
To view the full article, register now.