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Reynolds American (RAI -4%) confirms in a 10-Q filing with the SEC a payment of $5M to Star...

Reynolds American (RAI -4%) confirms in a 10-Q filing with the SEC a payment of $5M to Star Scientific (STSI -16.6%) in relation to the settlement of a patent case. The number is well-below what Star Scientific investors were expecting to see come into the company's coffers.
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Comments (4)
  • user418
    , contributor
    Comments (232) | Send Message
     
    That could not be the final payment and maybe only a partial payment for attorney fees. Lets face it, STSI, would not settle for $5m with a law suit that goes back to 2001.
    23 Oct 2012, 11:26 AM Reply Like
  • user418
    , contributor
    Comments (232) | Send Message
     
    One wonders what just only the PUNITIVE DAMAGES are going to be???????????
    23 Oct 2012, 11:27 AM Reply Like
  • JimShu
    , contributor
    Comment (1) | Send Message
     
    There are no punitive damages in a settlement!
    24 Oct 2012, 12:08 AM Reply Like
  • FWS
    , contributor
    Comments (136) | Send Message
     
    The way it is worded, coupled with the hit piece that Adam Fuerstein wrote on The Street, it shows one that this is not all that Star Scientific will be receiving. That was the Bear case all along. They have covered a lot of their position by purchasing the call options from November through January. Now, why would they do that if there was nothing more on the upside for Star?
    24 Oct 2012, 05:02 AM Reply Like
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