Wow Tim,that is an interesting theory,and it has my mind spinning!!
The tricky part for me is whether it would be considered an ATC issue or an F.R. Penn issue,,,,,,,,,,,,,because as you pointed out, American Tobacco had controlling interest in F.R. Penn at the time the Cobb brand tobacco was produced, but the Penn family still had operational control of the company.
With that being said, I would tend to think it would have to be considered an ATC issue,being that they had controlling interest.
I think you have came up with one of the best theories I have heard yet Tim, regarding the Cobb/Cobb-I'm sure I'll be dwelling on this all night-thanks
Sincerely,Clayton