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|Jump to full article: The Wall Street Journal Interactive Edition, 2000-10-18|
Author: Todd Goren / Dow Jones Newswires/Federal Filings Business News; 202-628-9782
UST Inc. (UST) deposited $500 million with the U.S. District Court on Oct. 10 to cover bonding requirements imposed by the court for certain antitrust litigation brought by Conwood Corp.
According to a Form 8-K filed Wednesday with the Securities and Exchange Commission, the antitrust lawsuit concerns UST's smokeless tobacco subsidiary, U.S. Tobacco Co. As reported, on Aug. 11 the Court set a bond of $500 million for an antitrust lawsuit filed against UST by Conwood.
As reported in March, a Kentucky jury ordered UST to pay Conwood $350 million in damages, later raised to $1.05 billion by the Court, in accordance with antitrust laws.
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