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Big Tobacco proposes $24B to settle Canada litigation

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Big Tobacco is proposing a nearly $24 billion settlement for litigation in Canada.

Philip Morris, British American Tobacco and Japan Tobacco are seeking to settle allegations that the companies knew since the 1950s that their products cause cancer and other illnesses.

The Canadian subsidiaries of all three companies have sought bankruptcy protection in the wake of court decisions related to the litigation in the country.

Read more from Reuters.

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