After decades of defending itself against lawsuits. Altria (MO) is
From Marketwatch
Philip Morris USA said it filed a suit to overturn a San Francisco law that would ban convenience drugstores from selling tobacco products. Altria is the Richmond, Va., tobacco company. Philip Morris said late on Wednesday that it sued in U.S. District Court for the Northern District of California, asking the court to declare the ordinance unconstitutional. The city Board of Supervisors has passed the law, and a separate suit in state court has also challenged the ordinance, Philip Morris said. “Although called a ban on sales,” the law suppresses “communications directed to adult smokers, in violation of our constitutional rights,” said Joe Murillo, Altria client-services vice president and associate general counsel, said in a statement
This is great. Tobacco is a legal product. You cannot ban the sale of a legal product to those legally allowed to use it, period. It is also nice to see Tobacco go on the offensive rather than sitting back.
Next up, Master Settlement Refunds…
Disclosure (“none” means no position):Long MO
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