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Article: Arbitration panel awards fees to tobacco case lawyers
- Article from:
- AP Online
- Article date:
- December 12, 1998
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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KATIE FAIRBANK AP Business Writer
AP Online
12-12-1998
DALLAS (AP) _ Attorneys who helped Texas, Mississippi and Florida settle their lawsuits against the tobacco industry will receive almost $8.2 billion in fees, an amount believed to be the largest ever awarded in the United States.
A divided three-member arbitration panel announced Friday that five private attorneys in Texas will receive $3.3 billion. The 11-firm team that worked on the Florida case was awarded $3.43 billion, and the 13-firm Mississippi team was awarded $1.43 billion.
The lawyers will receive the payments over at least 10 years, but perhaps as long as 25 years.
The payments, decided by a national arbitration ...