Tobacco industry officials have had little to cheer about of late, but they raised huzzahs last week -- and watched the value of their corporate shares climb -- in the wake of two important court cases. In Boston, a federal appeals court ruled that the Surgeon General's warning labels on every package of U.S. cigarettes shielded Liggett & Myers, based in Durham, N.C., in a $3 million lawsuit filed by the heirs of a lung cancer victim. Just four days earlier in Atlanta, another appeals court had made a similar ruling in favor of American Brands of Old Greenwich, Conn., the...
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