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Reynolds American (RAI) Stock Gains on Supreme Court Ruling

NEW YORK (TheStreet) -- Reynolds American (RAI) stock is increasing 1.04% to $50.74 in mid-morning trading on Monday after the Winston-Salem, NC-based tobacco company won a lawsuit brought by European Union countries.

The U.S. Supreme Court ruled in Reynolds American's favor after the group of European countries claimed the company was running a money-laundering system related to drug smuggling into Europe, Reuters reports.

The 4-3 ruling overturned a lower-court ruling in favor of the 26 countries. The case against...