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Stock Market & Financial Investment News

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April 30, 2014
08:37 EDTMOAltria to appeal reinstatement of Illinois “Lights” judgment of $10.1B
Philip Morris USA, a unit of Altria Group, said that it will seek immediate review by the Illinois Supreme Court of the appellate court decision to order reinstatement of the 2003 judgment in the Price “Lights” case. While that review is pending, the appellate court decision is stayed automatically. “The law does not allow the Fifth District to reopen a decision by the Illinois Supreme Court based on speculation about the possible impact of subsequent events on the higher court’s ruling. In addition, the Fifth District erred in ordering reinstatement despite the fact that the Illinois Supreme Court previously raised other problems with the judgment, including whether the case was properly certified as a class action,” said Murray Garnick, Altria Client Services senior vice president and associate general counsel, speaking on behalf of PM USA. The Illinois Supreme Court in 2005 overturned a $10.1B judgment against PM USA, which was imposed by former Madison County Circuit Judge Byron, sitting without a jury. “If the Illinois Supreme Court declines to review the case at this point, PM USA will pursue an appeal in the ordinary course, to which a $250M bond cap would apply,” Garnick added.
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September 10, 2014
16:00 EDTMOOptions Update; September 10, 2014
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September 8, 2014
08:11 EDTMOAltria Group price target raised to $46 from $43 at Stifel
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September 3, 2014
08:21 EDTMOAltria Group backs FY14 adjusted EPS view $2.54-$2.59, consensus $2.57
Altria reaffirms its 2014 full-year guidance for both reported and adjusted diluted EPS to be in a range of $2.54-$2.59 ahead of its appearance at the Barclays Back-To-School Consumer Conference.

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