Altria (MO), the company that sells Philip Morris cigarettes in the U.S., slid less than 1% late on Friday after announcing a judgment against Philip Morris USA by Oregon’s Supreme Court that will cost the company $119 million.
The judgment in the 15-year-old case will strip 2 cents of EPS from the company’s results in 2011, the company said.
“Altria Group today announced that its operating subsidiary, Philip Morris USA Inc. (PM USA) is recording a fourth- quarter pre-tax charge of $62 million related to tobacco and health judgments in the Williams and Bullock cases as well as incurring approximately $57 million in interest costs related to those two cases.”
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