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Judge: ITG is liable for Florida tobacco settlement payments
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FILE - Menthol cigarettes and other tobacco products are displayed at a store in San Francisco on May 17, 2018. Cigarette manufacturer ITG Brands assumed liability for tobacco settlement payments to the state of Florida when it acquired four brands from Reynolds American in 2015, a Delaware judge has ruled Friday, Sept. 30, 2022. Reynolds sold the Kool, Winston, Salem and Maverick brands to ITG in 2014 to gain federal regulators' approval of Reynolds’ acquisition of Lorillard Inc. - photo by AP Photo/Jeff Chiu, File
DOVER, Del. (AP) — Cigarette manufacturer ITG Brands assumed liability for tobacco settlement payments to the state of Florida when it acquired four brands from Reynolds American in 2015, a Delaware judge has ruled. Vice Chancellor Lori Will ruled Friday that, as a result, ITG must compensate Reynolds American for losses due, granting summary judgment in favor of Reynolds.