An arbitrator ruled that cigarette-makers lost market share as a result of a settlement they reached with U.S. states, boosting their chances of reducing the $6.5 billion payment they owe next month, according to a copy of the decision provided by a source.
The U.S. states, however, have said they would fight in court if they lost. They argue they met another requirement under the settlement because they collected funds from tobacco companies that did not sign it.
