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What will be the final settlement amount in Canadian tobacco litigation by end of 2024?
3
Resolution / Starting Odds
Less than $25B • 25%
$25B to $30B • 25%
$30B to $32.5B • 25%
More than $32.5B • 25%
Official court documents and announcements from Canadian courts
Story
Philip Morris, BAT, JTI Units Propose $32.5B Historic Settlement in Canada Tobacco Litigation
Oct 18, 2024, 02:45 AM
Major tobacco companies, including Philip Morris, British American Tobacco, and Japan Tobacco International units in Canada, are set to pay $23.6 billion in a historic proposed settlement to resolve tobacco product-related claims and litigation. A court-appointed mediator has proposed the resolution plan under Canada's Companies' Creditors Arrangement Act (CCAA) after years of negotiations. The settlement aims to address numerous lawsuits filed by provinces and individuals seeking compensation for healthcare costs and damages linked to tobacco use. The total payout could reach up to $32.5 billion to Canadian provinces and smokers. British American Tobacco's shares fell 2.2% following the announcement, as the company indicated it is close to settling the litigation in Canada.
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Approved • 25%
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British American Tobacco • 25%
Philip Morris International • 25%
Japan Tobacco Inc. • 25%
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