Court: Tobacco Billions Beyond U.S. Reach

[Rose Siding]

WASHINGTON (Reuters) - A U.S. appeals court on Friday rejected the government's bid to force cigarette makers to pay $280 billion in past profits, striking the toughest sanction from the racketeering case and lifting tobacco stocks.

The three-judge panel of the Court of Appeals for the District of Columbia ruled 2-1 that federal law does not allow the monetary "disgorgement" penalty the government sought in the civil case that has been tried since September.

"We hold that the language of (the racketeering law) and the comprehensive remedial scheme of (the racketeering law) preclude disgorgement as a possible remedy in this case," Appeals Court Judge David Sentelle wrote in the majority opinion.

Tobacco stocks rose after the ruling, with the S&P Tobacco Index closing up 4.92 percent.

http://www.reuters.com/newsArticle.jhtml?type=politicsNews&storyID=7545132&src=rss/ElectionCoverage

[cliss]

1. Cheez......

In my state (Oregon) we've already spent that money.......a lot of money, on a wide variety of programs......

And by the way, none of those programs were smoking cessation programs, like the lawsuit settlement said.

Jeez, I bet Governor Kulongoski is choking on his dinner tonight.

[Straight Shooter]

2. Nothing like investing in an agent of death and making profits

It's the American way :eyes: