Missouri Nets $50M On Big Tobacco Arbitration Reversal

Law360, New York (May 2, 2014, 7:29 PM EDT) -- 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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.