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The Tobacco Master Settlement Agreement (MSA) was entered on November 23, 1998, originally between the four largest United States tobacco companies (Philip Morris Inc., R. J. Reynolds, Brown & Williamson and Lorillard – the "original participating manufacturers", referred to as the "Majors") and the attorneys general of 46 states.
The Fair and Equitable Tobacco Reform Act is a component of the American Jobs Creation Act, passed in the United States in October 2004.The main component of the Fair and Equitable Tobacco Reform Act is the Tobacco Transition Payment Program (TTPP, otherwise known as the "Tobacco Buyout"), which was formalized by the United States Department of Agriculture in February 2005.
On November 23, 1998, Hawaii, along with 45 other states that had filed similar actions against the tobacco companies, entered into a "global" settlement. Under the Master settlement agreement ("MSA"), which memorialized the "global" settlement, the tobacco companies agreed to take steps aimed at reducing or eliminating tobacco use by minors ...
The state is seeking $58 million from tobacco companies Philip Morris and R.J. Reynolds Tobacco, alleging that they underpaid what they owe Minnesota in a landmark 1998 lawsuit settlement over the ...
That was the situation in 1998, when Philip Morris, along with several other of the world's largest tobacco companies, ended years of litigation with 46 states through a master settlement ...
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The Tobacco Settlement Financing Corporation was created as a separate legal subsidiary of the New York State Municipal Bond Bank Agency to securitize a portion of the State's future revenues from its share of the 1998 Master Settlement with the participating cigarette manufacturers in order to make a $4.2 billion payment to State's General Fund.
This settlement included payments to states, restrictions on advertisements, and free access to internal industry research, although some have criticized the settlement for shielding the industry from future lawsuits, granting a monopoly to the largest tobacco companies, creating "client states" dependent on settlement payments, and shifting ...