29 PRIVATE LAWYERS TO SPLIT 8.2 BILLION TOBACCO DOLLARS FEES FROM SETTLEMENTS MAY BE LARGEST AMOUNT AWARDED IN U.S.(News)

From: Seattle Post-Intelligencer | Date: December 12, 1998 | Copyright information

Attorneys who helped Texas, Mississippi and Florida settle their lawsuits against the tobacco industry will receive almost $8.2 billion in fees, an amount believed to be the largest ever awarded in the United States.

A divided three-member arbitration panel announced yesterday that five private attorneys in Texas will receive $3.3 billion. The 11-firm team that worked on the Florida case was awarded $3.43 billion, and the 13-person Mississippi team was awarded $1.43 billion.

The lawyers will receive the payments over at least 10 years, but perhaps as long as 25 years.

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