Vice Chancellor:  Cigarette Brands Purchaser Liable Under Florida Settlement

Mealey's (October 5, 2022, 12:53 PM EDT) -- WILMINGTON, Del. — A vice chancellor of the Delaware Chancery Court granted summary judgment in favor of Reynolds American Inc. and R.J. Reynolds Tobacco Co. (collectively, RJR) and ruled that the “only reasonable” interpretation of its sales agreement with the purchaser of four cigarette brands is that the purchaser is liable for overdue annual state payments to Florida on those brands, currently worth more than $170 million....