Philip Morris Cuts Profit Forecast After Canada Court Ruling

Philip Morris said Monday that it plans to take a pretax charge of $194 million in the first quarter due to the ruling. Photo: Daniel Acker/Bloomberg News 2 Comments By Micah Maidenberg Micah Maidenberg The Wall Street Journal Biography March 4, 2019 12:29 p.m. ET

Philip Morris International Inc. cut its profit outlook for the year and expects lower pretax earnings in the first quarter after a subsidiary and other tobacco companies lost a major legal appeal in Canada.

Last week, the Court of Appeal of Quebec issued a judgment in two class action lawsuits in which

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