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US Supreme Court rejects Tobacco Firms’ Appeal on Smoker Lawsuits

The justices on rejected appeals by units of Altria Group Inc. and British American Tobacco Plc in eight cases that totaled more than $120 million in awards to smokers and their family members.The appeals, which argued that the companies weren’t being given a fair chance to mount a defense, were similar to previous industry bids turned away by the high court in recent years.

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True North acquires 51 % in Max Bupa Health Insurance from Max India

The all cash transaction values Max Bupa at an enterprise value of Rs. 1,001 crore and is subject to requisite regulatory approvals. Bupa, the existing joint venture partner in Max Bupa, remains committed to the joint venture and will continue to play an active role in the company as before through its Board positions and knowledge exchange initiatives.

At the conclusion of the transaction,True North will nominate directors on Max Bupa’s Board, while Max India’s nominated directors will step down. The use of the Max brand will be phased out over a period of two years and replaced with a suitable name. The Bupa brand name will continue as before.

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