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Liggett comeback still has ground to cover 

For years, as its market share dwindled to 1 percent and its work force shrank to 300, from 1,700 at the beginning of this decade, many observers wondered how low Liggett could go.

Now, Liggett is back, at least as far as investors are concerned. But there are still perils. . . Now, analysts have trained their attention on the federal courthouse in Mobile, Ala., where a hearing is set for Thursday to give final approval to a separate class-action settlement costing Liggett 7.5 percent of pretax income for 25 years. The money would help pay the medical bills of sick smokers.

The company said in a May 17 filing with the U.S. Securities and Exchange Commission that it thinks a settlement in the Alabama case may thwart the filing of lawsuits and end the market's jitters over Liggett's potential liability.

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