Tobacco stocks burned by $23.6 billion judgment

Posted online July 21, 2014 | 7:58 am

A Florida jury awarded massive punitive damages of $23.6 billion to a smoker's widow who sued Reynolds American, and now tobacco stocks are burning.

The stock price for Reynolds American, parent company of R.J. Reynolds Tobacco Co., fell about 3 percent ahead of the first trading session since the jury award on Friday.

Other Big Tobacco stocks, such as Altria Group and Philip Morris, also fell on the news, according to CNNMoney.

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