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Philip Morris, Reynolds American Settle Database Dispute With DOJ

DOW JONES NEWSWIRES Altria Group Inc.'s (MO) Philip Morris USA and Reynolds American Inc.'s (RAI) R.J. Reynolds agreed to improve public availability of internal documents about tobacco industry practices and pay $6.3 million into a fund to do so, the U.S. Justice Department said Wednesday. The agreement resolves a dispute between tobacco companies and the U.S. about the online document databases. According to the department, a court in 2006 ordered the creation of the databases after ruling cigarette companies had suppressed internal documents, information and research in order to deliberately deceive consumers about tobacco's health effects and a range of industry practices like manipulating cigarette design to increase addiction and marketing to youth. The court ordered the companies provide public access to all documents they turned over in all smoking-and-health lawsuits in the U.S. for the next 15 years through online document websites and a hard-copy archive known as the Minnesota Depository. The companies agreed to pay $6.3 million to a court fund supporting the online collection of tobacco documents. The proposed consent order will not become final until it is reviewed and signed by the court. Messages left with both companies seeking comment weren't returned immediately. Altria shares were down 24 cents at $28.75, while Reynolds American's were down 18 cents at $40.57. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Altria (MO)
DateTimeHeadline
04/25/201308:00:18Altria 1Q Net Rises 16% on Credit, Higher Prices
04/25/201307:54:05Altria First-Quarter Net Rises 16% on Credit, Higher Prices
04/24/201315:22:29Rising E-Cig Popularity Hurting Traditional Cigarette Demand
04/24/201308:00:03Lorillard 1st-Quarter Net Up 47% on Gain, E-Cigarettes Boost
04/04/201313:40:10Altria CEO's 2012 Pay More Than Doubled to $12.1 Million
04/04/201313:11:49Altria CEO Barrington's 2012 Pay More Than Doubled to $12.1 Million
04/02/201316:50:52California Tobacco Bond Sale a Hit With Investors
02/20/201312:13:13Philip Morris to Begin Next Round of Studies for New Products
02/14/201311:06:33Deal for Heinz Would Rank as Largest Food-Focused Company Takeover
01/31/201308:10:10Altria Profit Up 32% on Stronger Cigarette Volume
01/31/201307:58:35Altria 4th-Quarter Profit Up 32% on Stronger Cigarette Volume
12/18/201218:46:32Tobacco Companies Resolve Payment-Adjustment Disputes With 17...
11/30/201207:10:06Tobacco Producers Raise List Price on Cigarettes
11/29/201210:33:15Altria Leads Peers by Enacting New Price Increase on Cigarettes
11/14/201213:45:18Cigarette Price Increase Could Be on Horizon for Tobacco Firms
11/12/201216:51:18Reynolds American's New Products Should Bolster Bottom Line
10/25/201208:16:26Altria 3rd-Quarter Profit Down 44% on Debt Extinguishment Charge
10/24/201216:19:41Tobacco Producers Hiking Promotions in Fight for Market Share
10/23/201208:56:34Correction to Reynolds American 3rd-Quarter Earnings Story
10/23/201208:09:22Reynolds American Third-Quarter Profit Rose 6.6% Amid Improved...

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