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As a result of those investigations, defendants knew that youth were highly susceptible to marketing and advertising appeals, would underestimate the health risks and effects of smoking, would overestimate their ability to stop smoking, and were price sensitive

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On 6 June 1903, Carreras became a public company with Yapp and Baron as directors and, under the leadership of Bernhard Baron, heralded the beginnings of competition for the Imperial Tobacco Group and the new American maker, James Buchanan Duke, who was also capturing large slices of the British market with Ogdens Guinea Gold, the first Virginia cigarette made in England

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