Philip Morris Allowed to Delay Payment
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The Supreme Court agreed to let Philip Morris USA delay paying $10.5 million in damages to a former smoker in Glendale while the tobacco company contested the amount.
The company was sued by Patricia Henley, who smoked for 35 years starting at age 15 and was diagnosed with lung cancer in 1997.
In September, the California Supreme Court refused to reduce the award, which Philip Morris claimed was excessive. The Richmond, Va.-based unit of Altria Group Inc. of New York is appealing to the Supreme Court.
Altria shares rose $1.03 to $48.03 on the NYSE.
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