Illinois Supreme Court has ruled that the tobacco giant Philip Morris will get back $2.15 billion of its appeal bond from the infamous Madison County Price v. Philip Morris USA case that was overturned late last year by the Court.
The Court also stated if the U.S. Supreme Court declines to hear an appeal, another $6 billion will be returned to the tobacco giant.
On Dec. 15, 2005, the Illinois Supreme Court threw out the $10.1 billion consumer fraud judgment against Philip Morris.
According to Madison County Chairman Alan Dunstan in his State of the County address in April, the county has earned $13.6 million on interest from the tobacco bond payments.
The U.S. Supreme Court also refused to hear the case in which plaintiffs alleged they were dupued into believing “light” cigarettes were safer than regular ones.