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Tobacco settlement close
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June 11, 1997: 7:27 p.m. ET
Lawyer in negotiations says only a few issues remain unresolved
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NEW YORK (CNNfn) - After more than two months of painstaking talks, a settlement in the tobacco negotiations is "imminent," New York State Attorney General Dennis Vacco told CNNfn.
Attorneys general from the 35 states that are suing the tobacco industry took part in a 90-minute conference call Wednesday morning to hash out all but a few final issues, Vacco said.
The issue of punitive damages that could be recovered from tobacco lawsuits in the future remained unresolved, he said.
Although there will be no cap on compensatory damages for individuals suing the tobacco industry, there will be an overall cap, he predicted. He did not specify how much it would be.
The last substantial stumbling block is how much money the tobacco industry will pay to settle the claims by the attorneys general to recoup costs for treating tobacco-caused illnesses among Medicaid recipients, Vacco said.
Vacco insisted a settlement is likely even though Brown and Williamson, the nation's third-largest cigarette maker, left the talks earlier this week. The company objects to the proposed scope of the Food and Drug Administration over nicotine content. Vacco said the issue just needs fine-tuning.
Everyone in the negotiations, which include industry representatives, class-action lawyers, attorneys general, and public health representatives, are planning to meet again next week in Washington, sources close to the talks told CNNfn.
The often contentious negotiations started two months ago. Thirty-five states filed suits against tobacco companies to try and recoup costs for patients suffering from tobacco-related illnesses. Hundreds of individual and class-action lawsuits are also pending.
The settlement would require approval of Congress and the President. 
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