Punitive damages in Reynolds ‘Engle’ case likely to be reduced - Winston-Salem Journal: Local Business

Tuesday, May 5th, 2015

Punitive damages in Reynolds ‘Engle’ case likely to be reduced

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Posted: Monday, July 21, 2014 4:52 pm

A Florida state jury is trying to send a message about tobacco manufacturers’ past marketing strategies by handing R.J. Reynolds Tobacco Co. a $23.6 billion punitive damages award Friday.

Investors, however, appear to have dismissed worries about the potential hit to Reynolds’ economic health that represents 75 percent of its current market capitalization.

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