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Tobacco lawyer says award would be a death warrant for tobacco companies
MIAMI (CNN) -- The attorney representing America's largest tobacco maker, Philip Morris USA, came out swinging Tuesday in closing arguments of a potentially landmark class action suit. Responding to a demand for $154 billion in punitive damages, Philip Morris attorney Dan Webb called the suggested award "not ridiculous. It's so far beyond what the law..allows, it makes a mockery of this proceeding." "Mr. Rosenblatt (the plaintiffs' attorney) does not seek truth, does not seek justice, he only seeks money," Webb added.
Webb called a $118 billion punitive damage award suggested against Philip Morris a "death warrant for each of these clients." He said it would "destroy not once but 10 times over" the defendants through loss of jobs and losses to stockholders. Philip Morris' audited financial statements show the value of Philip Morris at $6 billion. "If you award $6 billion, it's gone. Philip Morris is history," Webb told jurors. Florida law prohibits a firm from being put out of business by a punitive damage award. On Monday, the attorney representing three named plaintiffs and a class of an estimated 700-thousand Florida smokers asked for a range of $123 billion and $196 billion as punishment, but specifically requested $154 billion -- an amount Rosenblatt called "appropriate and just." Before wrapping his day and half long closing, smokers' attorney Rosenblatt told jurors, "Never doubt that a small group of thoughtful, committed citizens can change the world."
Rosenblatt told jurors "everyone is watching" their verdict, including Wall Street. "I ask you to demonstrate by the power and clarity of your verdict that this century, this millennium is gonna be different," he said. The award sought by Rosenblatt would set in a civil lawsuit record. Last year, $4.8 billion was awarded in a General Motors product liability case. The jury which has been hearing this case earlier ordered the tobacco companies to pay $12.7 million in compensatory damages. This is the first class action suit of its kind against the tobacco industry to go to trial RELATED STORIES: Smokers ask jury to consider up to $196 billion in punitive damages RELATED SITES: Truth | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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