WASHINGTON -- The U.S. Supreme Court has declined to hear UST Inc.'s appeal in the Conwood antitrust case brought against its U.S. Smokeless Tobacco Co. subsidiary. UST will now have to pay $1.05 billion to Conwood Co.
The company would not speculate as to why the court rejected the appeal. "They speak for themselves, and issued the decision without comment," UST spokesperson Mike Bazinet told CSP Daily News. "We had put in place the financial mechanism to pay [the award], so we'll do it, and take a one-time charge against 2002 earnings, so it will impact 2002. Operationally, We'll put the decision behind us."