Ontario Gets OK to Pursue $50B Tobacco Suit

Ontario's claiming the tobacco industry has knowingly misled smokers since 1955.

Ontario's fiscal situation might leave something to be desired, but that $16-billion deficit (and a lot more) could be dealt with in one fell swoop if the province wins its $50-billion lawsuit against the tobacco industry. Just this week, a superior court justice sided with the province over seven of the companies targeted in the suit that claimed they couldn't be sued in Ontario because the companies are based abroad. That ruling clears the way for the massive lawsuit to continue working its way through Ontario's court system. The suit hopes to recoup all health-care costs incurred by the province since 1955 due to smoking-related health issues. Now, whether the province ends up getting even a fraction of what it's seeking is for the court to decide, and even then, you can expect the tobacco industry to appeal the heck out of any unfavourable ruling. But should things eventually work out for the province, well, the tarred and blackened lungs of Ontario smokers could end up being Dalton McGuinty's angel investor.