Tobacco suit settled with coupons, cash

In a $65 million settlement with the state of Wisconsin, UST Inc. agreed to issue coupons worth more than $800 to plaintiffs who claim the Stamford company monopolized the market for smokeless tobacco.

According to the Associated Press, the attorneys that managed the class-action suit are to receive $17 million of the settlement.

A final hearing on the settlement is scheduled for December.

In separate news, UST”™s chief executive officer told analysts in Boston that he does not expect the company”™s results to be materially affected by new competitors, which include Richmond, Va.-based Altria”™s new Marlboro MST smokeless tobacco.

Early indications suggest Altria is not using dark-fired tobacco leaf for Marlboro MST, said analysts with UBS Investment Research this month, adding that their sources indicate the product does not taste like UST”™s Copenhagen and Skoal brands, which both use dark-fired tobacco.