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Philip Morris USA Confirms Receipt of $1.2 Billion in Escrow Funds Related to the Engle Class Action in Florida
NEW YORK-(Business Wire)-December 3, 2007 - Regulatory News:
Philip Morris USA (PM USA), the U.S. tobacco subsidiary of Altria Group, Inc. (NYSE: MO) confirmed today that it received $1.2 billion in funds held in an escrow account under the bond stipulation in the Engle smoking and health class action in Florida. PM USA also said it will immediately seek the discharge of a $100 million appeal bond in the same case.
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