Legal Triumph for Cigarette Makers

A highly anticipated legal ruling went in favor of the tobacco industry Thursday, as the supreme court of Florida upheld a decision to disallow a massive punitive-damages award against cigarette makers.

Because of the ruling, companies like Altria (MO Quote), the parent of Philip Morris, Reynolds American (RAI Quote), Loews (LTR Quote) and Vector Group (VGR Quote), won't have to pay $145 billion in punitive damages in a lawsuit known as the Engle case.

The Florida supreme court agreed with a lower-court ruling that the case shouldn't have been certified as a class action and said the award was excessive. ...