Reynolds $23B Loss in Smoker Verdict Likely to be Cut

The $23 billion punitive damages Reynolds American faces regarding the death of a Florida man is likely to see a reduction. The country's second largest cigarette company was ordered by a Florida jury to pay $23.6 billion to a Florida woman whose husband died of lung cancer. The tobacco company was hit with the punitive fine on top of $16.8 million in compensatory damages. The decision is likely to be rejected on appeal or the value that Reynolds must pay may be reduced. This ruling comes as Reynolds American agreed this month to buy Lorillard for $25 billion. This deal would leave with just Reynolds and Altria controlling 90% of the American tobacco market. TheStreet's Kathryn Mykelseth reports from New York.