Judge slashes damages against tobacco giant

A Los Angeles judge ruled that a jury’s $3bn(£2.1bn) verdict against Philip Morris was excessive, but the tobacco giant will get a retrial only if the cancer-stricken plaintiff will not accept a settlement of $100m (£70m).

Superior Court Judge Charles W. McCoy ruled yesterday on a motion by the tobacco giant, arguing that the punitive award was extreme and that the company is likely to face similar cases and could not pay £2.1bn to every plaintiff.