Liggett, the tobacco unit of Vector Group, will pay USD 17.65 million (EUR 16.5 million) to settle 124 Engle progeny suits, which the company said represent about half of what was pending.
The agreement, outlined in a filing with the Securities and Exchange Commission, leaves 125 Engle cases pending against Liggett and Vector. Engle progeny cases stem from a class-action suit in Florida bearing the name of deceased physician Howard Engle. The class-action was dismissed but the state high court allowed plaintiffs to use evidence gathered in that case to press individual damage claims in Florida.
Liggett paid USD 14 million to plaintiffs on 7 Dec and will pay the remainder in four quarterly payments next year, according to the SEC filing.
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