Philip Morris Sues Reynolds for $100 Million Settlement Windfall

Reynolds American Inc. is gaming the legal system by keeping more than $100 million after a court fight with ITG Brands LLC that should go to Philip Morris USA Inc., the tobacco titan said in a lawsuit.

Philip Morris sued Reynolds for unjust enrichment Wednesday, saying the British American Tobacco Plc affiliate is double-dipping after winning its case against ITG. That lawsuit concerned the impact of a brand sale on smoking-related settlement payments to the state of Florida. The earlier ruling failed to factor in certain “profit adjustment” payments, letting Reynolds stick Philip Morris with the nine-figure bill, according to ...