Split N.C. Supreme Court reverses decision in tobacco acquisition fight

The N.C. Supreme Court has voted, 4-3, to overrule a state Appeals Court ruling in a court fight involving British American Tobacco and Reynolds American’s $29.25 billion takeover of Lorillard.

The high court’s ruling means opponents of the tobacco megadeal cannot pursue a claim that BAT violated a fiduciary duty to other owners of Reynolds American stock.

Mitch Kokai / Senior Political Analyst

Mitch Kokai is senior political analyst for the John Locke Foundation. He joined JLF in December 2005 as director of communications. That followed more than four years as chie...