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Jump to full article: The Wall Street Journal Interactive Edition, 2006-04-17
Author: Mary Ellen Lloyd, Dow Jones Newswires
Intro: Major U.S. tobacco companies have met a Monday deadline to make more than $6 billion in payments required for 2006 under a 1998 health-claims settlement with 46 states.
But two companies - Reynolds American Inc.'s (RAI) R.J. Reynolds Tobacco Co. and Loews Corp.'s (LTR) Lorillard Tobacco Co. - put a combined $755 million of their payments into special accounts pending settlement of a dispute over whether they are due a reduction in payments.
Altria Group Inc.'s (MO) Philip Morris USA unit made its entire $3.4 billion payment for 2006 on March 31, company spokesman Michael Neese said Monday. Philip Morris is the largest U.S. tobacco company and didn't withhold any of its payments from the states, Neese said.
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