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Liggett Group to pay $110 million in tobacco settlement

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Stunning victory for Grossman Roth on the out-of-court settlement of thousands of Florida lawsuits accusing the tobacco company of concealing the dangers of smoking cigarettes.

The out-of-court settlement will resolve nearly 4,900 of the 5,300 lawsuits pending in Florida against Liggett and its parent company, Vector Group Ltd, according to the company’s statement. The agreement is expected to be finalized within 90 days, and will entail a lump-sum payment of $61 million, with the remaining $49 million being paid in installments over 15 years to the plaintiffs, the statement said.

“We’re pleased that this settlement will provide some compensation to thousands of victims of the tobacco industry’s conduct, but the fight with the remaining cigarette companies is far from over,” says Neal Roth.

Click here to read the article at Reuters.