The Los Angeles Times reports today on the Second Circuit opinion reversing class action certification of a fraud under RICO class action against various tobacco companies. (Our initial news on this opinion may be found here, and our summary of the Circuit Court opinion may be found here.) The Los Angeles Times notes that the damages sought by the class action “theoretically could have ballooned to as much as $800 billion,” and quotes a defense attorney as noting that the decision has “tremendous significance” due to its potential impact on numerous similar class action lawsuits pending in other state and federal courts.
The article, entitled “Light cigarette smokers lose class-action status,” may be found in the Business Section of the April 4, 2008 edition of the Los Angeles Times.
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