Philip Morris, Imperial Tobacco, JTI-Macdonald Face $23.5B Settlement in Canada Tobacco Lawsuits
Portfolio Pulse from Benzinga Newsdesk
Philip Morris International Inc. (PMI) and its Canadian affiliate, Rothmans, Benson & Hedges Inc. (RBH), along with Imperial Tobacco and JTI-Macdonald, face a CAD 32.5 billion (USD 23.5 billion) settlement in Canada for tobacco-related claims. The settlement involves upfront payments and annual payments based on net income, excluding non-combustible products.
October 18, 2024 | 8:06 am
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Philip Morris International Inc. (PMI) is involved in a CAD 32.5 billion settlement in Canada for tobacco-related claims. The settlement will be funded through upfront and annual payments.
The settlement involves significant financial obligations for PMI's Canadian affiliate, RBH, which could impact PMI's financials and stock price negatively in the short term.
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