Philip Morris Wins Reversal of $10.1 Bln Damage Award (Update6)

Dec. 15 (Bloomberg) -- Altria Group Inc.'s Philip Morris USA doesn't have to pay a $10.1 billion damage award to smokers of ``light'' cigarettes who accused the company of misleading them about health risks, the Illinois Supreme Court ruled.

Shares rose $4.45 to $78.18 or 6 percent at 10:49 a.m. in New York Stock Exchange composite trading.

The Springfield, Illinois-based court reversed a decision by a lower court judge who said Philip Morris ``intended to deceive consumers'' into believing its Marlboro Lights and Cambridge Lights were safer than regular brands. The court found that Illinois law didn't permit the suit because the U.S. Federal Trade Commission had authorized cigarette makers to characterize their products as ``light'' or ``low tar.''