LAWSUITS NEWS & LEGAL INFORMATION
Tobacco Growers
Lexington, KY: (Dec-19-07) Over 198,000 past and present tobacco growers in four states brought a lawsuit against Lexington-based Burley Tobacco Growers Cooperative Association, and 54 of its officers, directors and former directors, over the tens of millions of dollars the co-op held in reserve since at least 1992. The suit, filed in 2003, also asked for an accounting of all funds handled by the co-op between 1982 and 2002.
Sources said that the dispute reached a settlement, which is said to benefit over 198,000 past and present burley tobacco growers. Under the deal, the farmers and their attorneys will share an estimated $100 million under a final judgment in their four-year-old lawsuit against the Lexington-based Burley Tobacco Growers Cooperative Association. The co-op's spokesperson stated that about $50 million will be mailed in early January 2008 to farmers in Kentucky, Indiana, Ohio and West Virginia. It is estimated that farmers will receive equal shares of the remaining 85 percent. If the total reaches $100 million, farmers might eventually get about $430 each. [HERALD LEADER: TOBACCO GROWERS]
Published on Dec-26-07
Sources said that the dispute reached a settlement, which is said to benefit over 198,000 past and present burley tobacco growers. Under the deal, the farmers and their attorneys will share an estimated $100 million under a final judgment in their four-year-old lawsuit against the Lexington-based Burley Tobacco Growers Cooperative Association. The co-op's spokesperson stated that about $50 million will be mailed in early January 2008 to farmers in Kentucky, Indiana, Ohio and West Virginia. It is estimated that farmers will receive equal shares of the remaining 85 percent. If the total reaches $100 million, farmers might eventually get about $430 each. [
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