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Japan Tobacco Inc. (2914.T)
- Yahoo Finance UK
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Earnings preview of key companies reporting this week and what to look out for.
- Reuters
Big Tobacco nears $24 billion settlement to end Canada lawsuits
If approved, the plan would be the largest settlement of its kind outside the United States, said Jacob Shelley, co-director of the Health Ethics, Law and Policy lab at Canada's Western University. The Canadian units of the three tobacco giants were dealt a massive blow in 2015 after a Quebec court awarded damages to some 100,000 smokers and ex-smokers who alleged the companies knew since the 1950s their product was causing cancer, other illnesses and failed to warn consumers adequately. After an appeal, a Quebec court in 2019 upheld the 2015 decision that awarded smokers in the Canadian province around C$15 billion, forcing the Canadian subsidiaries of all the three cigarette makers to seek bankruptcy protection.
