Philip Morris Cuts Profit Forecast After Canada Court Ruling

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Philip Morris Cuts Profit Forecast After Canada Court Ruling
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Marlboro maker Philip Morris cut its earnings outlook for the year after a legal appeal didn't go its way

Last week, the Court of Appeal of Quebec issued a judgment in two class action lawsuits in which Philip Morris unit Rothmans, Benson & Hedges Inc.

was a defendant along with British American Tobacco PLC’s Imperial Tobacco Canada Ltd. and Japan Tobacco Inc.’s JTI-Macdonald Corp. The cases date back years and alleged...

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