Judge to decide if R.J. Reynolds has underpaid state
PASCAGOULA — A Jackson County judge is scheduled to hear a claim that R.J. Reynolds Tobacco Co. has underpaid the state of Mississippi at least $1 million in the tobacco settlement payments.
The Mississippi Press reports that Jackson County Chancery Judge Jaye Bradley will preside today over the non-jury trial.
Attorney General Jim Hood sued in 2010 alleging R.J. Reynolds “misrepresentation and overstated 1997 base-year profit has resulted in artificially low payments to Mississippi for 2001 and for every year thereafter in which Mississippi was entitled to a net operating profits adjustment.”
The company was part of a tobacco master settlement agreement in 1997 that included 46 states. Mississippi’s share of the 25-year, $206-billion settlement with the 46 states is expected to be approximately $3.6 billion.
Source: Mississippi Press
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Judge gets more time to fight efforts to remove him from office
- State renews battle over water use with city of Memphis
- Voters to decide whether hunting, fishing is constitutional right
- Coast cleanup nets 1,600 bags of trash — and a watermelon patch
- Mississippi Film Studios signs contract with New Orleans company