June 9, 2004
* Flextronics International Ltd., the biggest maker of cellphones and computers for other companies, agreed to buy 55% of India-based Hughes Software Systems Ltd. for $226 million. * R.J. Reynolds Tobacco Holdings Inc. agreed to delay its proposed $3-billion buyout of No. 3 Brown & Williamson Tobacco to give antitrust enforcers an additional 13 days to review the acquisition.
January 30, 2004 |
R.J. Reynolds Tobacco Holdings Inc. will get a California Supreme Court review of a $14.8-million fine the company received for distributing tobacco at events where children were present. The California Supreme Court agreed to decide whether state Atty. Gen. Bill Lockyer exceeded his authority with the fine for violating a state law banning tobacco giveaways on public grounds where minors might be in attendance.
July 20, 2002 |
The European Union said it has appealed a U.S. court ruling dismissing a lawsuit against tobacco giants Philip Morris Cos. and R.J. Reynolds Tobacco Holdings Inc. in which EU lawyers claimed the companies sponsored cigarette smuggling in Europe. Philip Morris attorney Steven Rissman denied the allegations and said the company expects the dismissal to stand.
January 8, 2002 |
The U.S. Supreme Court refused to consider arguments that the $206-billion nationwide tobacco settlement violates antitrust laws by letting cigarette makers jack up prices in concert. The justices, without comment, turned aside an appeal by two wholesalers opposed to the 1998 accord between tobacco companies and 46 states. The wholesalers sought to revive a suit against Philip Morris Cos., R.J. Reynolds Tobacco Holdings Inc. and British American Tobacco's Brown & Williamson Tobacco Corp.
October 23, 2002 |
R.J. Reynolds Tobacco Holdings Inc. said its third-quarter earnings were up, but the maker of Winston, Camel and Doral cigarettes lowered its earnings outlook for the year for the second time in as many months. RJR posted earnings of $139 million, or $1.56 a share, up from $119 million, or $1.22 a share, a year ago. Sales declined 3% to $1.59 billion. The company lowered its earnings outlook for 2002 to $6.05 to $6.40 a share. Shares of RJR rose 37 cents to $42.90 on the NYSE.
January 16, 2003 |
The European Commission defeated three tobacco companies in a top European court, rebuffing an attempt to derail its smuggling and money-laundering charges against them. "These cigarette manufacturers cannot prevent the [European] Community from continuing legal proceedings brought by it before the Courts in the United States," the Court of First Instance said in a statement. Philip Morris Cos., which along with R.J. Reynolds Tobacco Holdings Inc. and Japan Tobacco Inc.