MARCH 20, 2003
US government attacks Big Tobacco (again)
The US Department of Justice is suing the big tobacco companies for damages amounting to $289bn, seeking reparation for 50 years of what it claims to have been fraudulent marketing. The legal action has been due since 1999 but it was not clear just how big the claim was going to be. The announcement of the lawsuit caused the share price of the bog tobacco companies to fall sharply. The case comes in the wake of a 1998 settlement with the individual states which will cost the tobacco companies $206bn. Tobacco remains the biggest source of funding in F1 although it is planned for the sport to become tobacco-free by 2006.
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