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Article: AG threatens suit against Philip Morris.(News)
- Article from:
- The Boston Herald
- Article date:
- April 5, 2003
- Author:
CopyrightCOPYRIGHT 2003 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ELIZABETH W. CROWLEY
Attorney General Thomas Reilly yesterday threatened to sue Philip Morris if the nation's largest cigarette maker fails to pony up $104 million it owes Massachusetts by April 15.
The tobacco giant has warned the 46 states that signed on to the 1998 tobacco industry settlement that this month's payments are in jeopardy because of a $10.1 billion judgment against the company in March.
The judge in that case has ordered Philip Morris to post a $12 billion bond - a requirement the company says it cannot meet without suspending its $2.6 billion payments to states.
States that rely heavily on the tobacco money to ...