So, why are the tobacco companies continuing to survive?
The US Chamber of Commerce has started a global campaign to reduce the effects of the truth on behalf of the tobacco industry. The industry is a blight to life, but, those that see only profits on a moment to moment basis don't care about ethics or morals.
June 29, 2015
...The RJR investment (click here) committee petitioned the Supreme Court in December, after the 4th U.S. Circuit Court of Appeals, Richmond, Va., sided with plan participants who argued that plan executives breached their fiduciary duties in managing and later selling certain stocks in the plan and gave insufficient attention to those decisions.
(R.J. Reynolds Tobacco Co. is now an indirect subsidiary of Reynolds American Inc., Winston-Salem, N.C.)
After RJR Nabisco Inc. spun off its tobacco business and retirement plan investments were reset, the fiduciaries were sued for selling the company stock in both companies in the 401(k) plan too soon. On Aug. 4, the circuit court ruled 2-1 that a defendant has the burden of proof if there is a breach of duty, and that a fiduciary can be held liable for damages even for a prudent decision...
The US Chamber of Commerce has started a global campaign to reduce the effects of the truth on behalf of the tobacco industry. The industry is a blight to life, but, those that see only profits on a moment to moment basis don't care about ethics or morals.
June 29, 2015
...The RJR investment (click here) committee petitioned the Supreme Court in December, after the 4th U.S. Circuit Court of Appeals, Richmond, Va., sided with plan participants who argued that plan executives breached their fiduciary duties in managing and later selling certain stocks in the plan and gave insufficient attention to those decisions.
(R.J. Reynolds Tobacco Co. is now an indirect subsidiary of Reynolds American Inc., Winston-Salem, N.C.)
After RJR Nabisco Inc. spun off its tobacco business and retirement plan investments were reset, the fiduciaries were sued for selling the company stock in both companies in the 401(k) plan too soon. On Aug. 4, the circuit court ruled 2-1 that a defendant has the burden of proof if there is a breach of duty, and that a fiduciary can be held liable for damages even for a prudent decision...
