Monday, June 11, 2007

Supreme Court Slaps Down Philip Morris

Philip Morris’ game of musical courtrooms was put to a stop Monday when the U.S. Supreme Court ruled that the tobacco company cannot move a class-action lawsuit filed by cigarette smokers in an Arkansas court to federal court.

The court’s decision didn’t seem to faze investors. Shares of Altria (nyse: MO - news - people ) were largely unchanged, slipping 8 cents, or 0.1%, to close at $70.22 Monday.

In the case of Watson v. Philip Morris, consumers are claiming that the company violated Arkansas' unfair business practice law by advertising certain cigarettes as “light” when the company was manipulating the results of tests so that it appeared as if the cigarettes contained less tar and nicotine.

what exactly the court wants???

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