Tobacco ruling opens way for claims.

Eddie Farah

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The largest damage award of $145 billion, against the tobacco industry was struck down last Thursday by the Florida Supreme Court.

The court's ruling cited the class of smokers was incorrectly certified and the damages were excessive because they would bankrupt the defendants, a violation of Florida Law.

The defendant, Philip Morris USA, R.J. Reynolds, Brown and Williams, Lorillard, and The Liggett Group couldn't have been more pleased. Their stocks jump on Wall Street. For example, shares of Phillip Morris jumped six per cent closing at $77.76.

Phillip Morris USA vice president William Ohlemeyer said the decision validates the traditional claim of tobacco companies that smokers' lawsuits must be decided case-by-case.

That is why these tobacco companies are considering appealing the Florida's decision to the U.S. Supreme Court in an effort to shut down smoker's right to bring individual cases.