An arbitration panel has signed off on a settlement of a dispute between tobacco companies and 17 states, including Arkansas, the District of Columbia and Puerto Rico that will bring $22.7 million to Arkansas in 2013.
Tobacco companies had alleged that Arkansas and the other states had violated terms of the 1998 Master Settlement Agreement that has paid $60 million to Arkansas every year and which supports the state’s anti-smoking and other health-related programs.
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The settlement allows Arkansas to receive 54 cents on the dollar of the disputed amount. A release from Attorney General Dustin McDaniel’s office about the settlement is on the jump. R.J. Reynolds’ release is here.