Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Will UPS Stock Be Hurt By $872 Million Cigarette Delivery Lawsuit?

 


NEW YORK (TheStreet) -- Shares of United Parcel Service (UPS) were higher in late-afternoon trading on Monday despite the Atlanta-based package delivery service being sued by New York state and city officials for allegedly making illegal deliveries of more than 683,000 cartons of untaxed cigarettes, according to Reuters.

New York Attorney General Eric Schneiderman and New York City authorities are urging a federal judge in Manhattan to make the company pay more than $872 million in penalties and damages for the alleged deliveries.

Lilia Tomson, a lawyer for New York City, said during the non-jury trial that UPS "repeatedly ignored" red flags that many of its shipments from American Indian reservations contained untaxed cartons of cigarettes, Reuters reports.

https://www.thestreet.com/story/13744670/1/will-ups-stock-be-hurt-by-872-million-cigarette-delivery-lawsuit.html

 

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