Walmart reached a proposed settlement settlement about its distribution of prescribed opioids on Friday in response to Safety and Alternate Fee (SEC) filings.
This settlement contains three separate shareholder instances, 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 courtroom approval.
If accredited, 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 embrace any admission of legal responsibility, and Walmart “expressly” denies any wrongdoing.
“The settlement acknowledges that the directors and officers maintain they did nothing wrong. This matter was resolved to the parties’ mutual satisfaction to avoid the risk, distraction, and expense of continued litigation,” a Walmart spokesperson stated in an electronic 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.
