UNITED STATES
MSA payment dispute settlement

RJ Reynolds Tobacco Company (RJR) and other manufacturers reached an agreement with states to settle a decade of disputed claims resulting from the Master Settlement Agreement (MSA), the company announced.

Seventeen states, the District of Columbia and Puerto Rico are covered by the agreement. RJR said it hoped other states would join the settlement. The settlement releases money paid by tobacco companies into a disputed settlements account to state governments. Tobacco companies will receive credits toward future payments.
A new payment formula will take account of market shares lost to companies that did not participate in the MSA settlement, according to a separate statement by Lorillard. Philip Morris USA also is a signatory to the agreement.
Based on the 19 jurisdictions that have joined the settlement, RJR said it expects to receive credits estimated at more than USD 1 billion (EUR 758 million) from the years 2003 through 2012 that will be applied to MSA payments in the next five years. Lorillard said it expected to receive more than USD 198 million in credits over the next five years. (ci)

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