ITG owes Reynolds American $251.5 million for Florida tobacco settlement, judge rules
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2025
0mins
Source: Reuters
Court Ruling on Tobacco Settlement: A Delaware judge ordered ITG Brands to pay $251.5 million to Reynolds American due to a Florida tobacco settlement, rejecting ITG's argument for a reduced amount based on savings from not joining the settlement.
ITG's Response and Appeal: ITG plans to appeal the ruling, asserting disagreement with the court's findings regarding liability and damages related to the sale of cigarette brands from Reynolds to ITG in 2015.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
