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Gov Can Seek $280B From Tobacco
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Federal Appea;s court rukes 2-1 against the Goverment.
What the Gov't was seeking was to take away all of the profits in past profits. Goverment is already started the appeals process
www.foxnews.com
The Court of Appeals for the District of Columbia (search) ruled 2-1 that federal law does not provide for the monetary "disgorgement" penalty the government is seeking as part of the case that went to trial in September.
"We hold that the language of [the racketeering law] and the comprehensive remedial scheme of [the racketeering law] preclude disgorgement as a possible remedy in this case," the opinion of the majority said.
The decision strips the government of its most powerful weapon in the case
Please visit the link provided for the complete story.
Again, When you think that the tobacco companies who have been hiding the fact for over 50 years the fact taht not only was tobacco addictive but they added to the addicitiveness. They also knew of the health risks involved with tobacco use.
Strike one up for big buisness. I love the this line from the article: he news boosted shares of Altria, which rose 4 percent to $66.45 while Reynolds American Inc. also gained 4 percent to $85.25.
[edit on 29-3-2005 by Spectre]
What the Gov't was seeking was to take away all of the profits in past profits. Goverment is already started the appeals process
www.foxnews.com
The Court of Appeals for the District of Columbia (search) ruled 2-1 that federal law does not provide for the monetary "disgorgement" penalty the government is seeking as part of the case that went to trial in September.
"We hold that the language of [the racketeering law] and the comprehensive remedial scheme of [the racketeering law] preclude disgorgement as a possible remedy in this case," the opinion of the majority said.
The decision strips the government of its most powerful weapon in the case
Please visit the link provided for the complete story.
Again, When you think that the tobacco companies who have been hiding the fact for over 50 years the fact taht not only was tobacco addictive but they added to the addicitiveness. They also knew of the health risks involved with tobacco use.
Strike one up for big buisness. I love the this line from the article: he news boosted shares of Altria, which rose 4 percent to $66.45 while Reynolds American Inc. also gained 4 percent to $85.25.
[edit on 29-3-2005 by Spectre]
The Fed and State govs are just as guilty because of all of the taxes and kickbacks they have taken. Where does everyone think that all of the money
now collected in taxes will come from if everyone quits smoking? Can you say new taxes because you know they are not going to go without the billions
they get from it now.
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