Icahn to make another try for control of RJR Nabisco

Article Abstract:

Corporate financier Carl Icahn has threatened to wage another proxy fight to gain control of RJR Nabisco Inc. Icahn, who owns 7.9% of RJR's stock, wants the firm to spin off its Nabisco food operations. RJR chmn Steven Goldstone is opposing the proposed spin off, claiming that lawyers in charge of smoking-related damages filed against the company would also oppose such a move. While there are those who agree with Icahn that Nabisco's spin-off will increase shareholder value, there are others who believe that Icahn's efforts will fail because there is nothing basically improper with the way RJR is being managed.

United States, Financial management, RJR Nabisco Inc.

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Jury orders Philip Morris to pay record S3B to ill smoker

Article Abstract:

Philip Morris has been ordered by a jury in Los Angeles, CA, to pay $3 billion to a longtime smoker with lung cancer, the largest judgment against a cigarette maker in suit brought by an individual. Richard Boeken was awarded $3 billion in punitive damages and $5.5 million in other damages. Boeken's lawyeres argued that he was a victim of a fraudulent, decades-long tobacco industry campaign to promote smoking as cool and that Philip Morris was negligent for concealing the dangers of its products.

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Tobacco titans face EU lawsuit

Article Abstract:

Philip Morris and RJ Reynolds are facing a lawsuit from the EU which claims that the companies are running a multibillion-dolar international cigarette smuggling operation. The conspiracy is said to have siphoned off billions of dollars in customs payments, fees, duties and taxes from the EU. The federal civil racketeering action is aimed at recovering billions of dollars in lost customs payments, taxes and other fees.

Europe

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