Philip Morris USA, Brown & Williamson, and Lorillard

A settlement has been reached in the antitrust class action lawsuit filed against Philip Morris USA, Brown & Williamson, and Lorillard on behalf of tobacco farmers. According to the terms of settlement, Philip Morris will pay between $79 million and $145 million dollars, Brown & Williamson will pay $23 million dollars, and Lorillard will pay $20 million dollars. Also under the settlement, the cigarette manufacturers will purchase a "substantial percentage" of their tobacco requirements from the US tobacco farmers over the next ten years. (May-16-03)