Categories · Lawsuits
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· Labels/Lights
USA, by State · Massachusetts
Lawsuits · Aspinall
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(Adds comments, details, stock activity, byline) Jump to full article: Reuters (uk), 2004-08-13 Author: Jessica Wohl
Intro: The Supreme Judicial Court of Massachusetts on Friday said a group of smokers who bought Marlboro Lights cigarettes in the state could sue as a class.
Last year, a justice of the Massachusetts Appeals Court decertified the "lights" class action known as Aspinall, which alleged Philip Morris USA marketed its Marlboro Lights as safer than regular cigarettes.
"The judge's conclusion that the plaintiffs' claim warrants certification as a consumer class action is amply supported by the record," the ruling read, referring to an earlier ruling from a Superior Court, which had certified the class action.
Philip Morris USA is part of New York-based Altria Group Inc. MO.N , whose shares fell 90 cents, or 1.9 percent, to $46.48. Other tobacco-related shares were also lower. . . .
"We view this as a modestly negative development for the cigarette companies, since it is now likely that the case will need to go to trial," said Goldman Sachs analyst Judy Hong, who has an "in-line" rating on Altria and a "neutral" rating on the tobacco sector.
"The latest development is also consistent with our view that these 'lights' class action cases are unlikely to go away as quickly and as decisively as some market participants believe," Hong said.
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