Philip Morris Sues Retailers Over Fakes
From Dow Jones/Associated Press
Altria Group Inc.’s Philip Morris USA unit said it filed federal lawsuits against 197 retailers in eight states that allegedly sold counterfeit versions of the company’s cigarettes.
The suits bring to 612 the number of retailers Philip Morris has taken to court since September. Past suits resulted in 43 consent judgments in which retailers agreed to stop selling counterfeit cigarettes and to provide information about their suppliers.
* Altria Group Inc.’s long-term credit ratings were cut by Moody’s Investors Service to the second-lowest investment grade because the company’s financial flexibility is being crimped by litigation.
