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Stock Market & Financial Investment News

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February 13, 2013
07:18 EDTLOLorillard comments on agreement to resolve MSA payment adjustment disputes
On December 18, Lorillard Tobacco, along with other participating manufacturers, agreed to a term sheet with 17 states and the District of Columbia and Puerto Rico that resolves disputes under the 1998 Master Settlement Agreement involving payment adjustments relating to nonparticipating manufacturers. The settlement would resolve the claims for the years 2003 through 2012 and would put in place a new method for calculating this adjustment beginning in 2013. If the settlement proceeds and is approved, Lorillard Tobacco expects to receive credits over the next five years totaling at least $196M on its outstanding claims, with the majority of the credits occurring in April 2013 and the remainder over the following four years. As of February 11, 2013, the arbitration panel has not made its ruling with regard to the settlement. No amounts have been included in 2012 results related to this settlement. Certain non-settling states have objected to the request for approval.
News For LO From The Last 14 Days
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March 29, 2015
16:28 EDTLOReynolds American, Lorillard to meet with FTC this week, WSJ says
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March 23, 2015
15:53 EDTLOCapitol Forum: FTC timing agreement for Lorillard deal extended, Bloomberg says
Capitol Forum reported earlier, citing a person familiar with the matter, that the FTC timing agreement for the review of Reynolds American's (RAI) proposed acquisition of Lorillard (LO) has been extended by one week to March 31.

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