Walmart reached a proposed settlement settlement about its distribution of prescribed opioids on Friday based on Safety and Trade Fee (SEC) filings.
This settlement consists of three separate shareholder circumstances, every of which alleged Walmart didn’t correctly oversee the dispersion and distribution of prescription opioids underneath the Managed Substance Act.
The settlement remains to be topic to court docket approval.
If permitted, the settlement states insurance coverage carriers would pay $123 million, excluding litigation bills and different authorized charges, to an account. The settlement, filed on Friday, doesn’t embody any admission of legal responsibility, and Walmart “expressly” denies any wrongdoing.
“The settlement acknowledges that the administrators and officers preserve they did nothing mistaken. This matter was resolved to the events’ mutual satisfaction to keep away from the chance, distraction, and expense of continued litigation,” a Walmart spokesperson stated in an e-mail to The Hill.
In 2022, Walmart paid $3.1 billion to settle nationwide lawsuits concerning opioid prescriptions.
The Related Press contributed to this report.
