Philip Morris sues for dollars 10bn
Friday 25 March 1994
The report on an ABC TV programme contained statements that were 'false and inflammatory' and caused a dramatic decline in the value of Philip Morris shares, the group's general counsel, Murray Bring, said. The shares fell 2 per cent the day after the broadcast, which apparently had no effect on cigarette sales, he said.
The show, quoting medical sources and industry documents, suggested cigarette makers added extra nicotine to make it more difficult for smokers to quit. ABC said it stood by its claims.
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