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News Breaks | | | | February 13, 2013 | | 07:18 EDT |  | LO | Lorillard 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. | |
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News For LO From The Last 14 Days Check below for free stories on LO the last two weeks. |
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| May 21, 2013 | | 16:11 EDT | | LO | Lorillard authorizes additional $500M for share repurchase program
 Subscribe for More Information | | | 10:56 EDT | | LO | Tobacco stocks lower after Minnesota proposes doubling cigarette tax
Subscribe for More Information | | | 10:32 EDT |  | LO | Minnesota lawmakers pass cigarette tax hike, Pioneer Press reports
Subscribe for More Information | | | May 20, 2013 | | 12:20 EDT |  | LO | Options with decreasing implied volatility: RFMD TTWO LO DDS A
| | | May 17, 2013 | | 11:59 EDT | | LO | Options with decreasing implied volatility: ILMN LO A HES INFY CSCO
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