By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Stocks > Kroger to pay $68 million to settle West Virginia opioid claims
Stocks

Kroger to pay $68 million to settle West Virginia opioid claims

News Room
Last updated: 2023/05/04 at 11:35 PM
By News Room
Share
3 Min Read
SHARE
2/2

© Reuters. A screen displays the company logo for Kroger Co on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid

2/2

By Brendan Pierson

(Reuters) -The Kroger (NYSE:) Co has agreed to pay West Virginia $68 million to settle claims that it fueled the opioid epidemic through lax oversight of its pill sales, bringing the state’s years-long litigation over the opioid crisis to a close.

The deal, announced Thursday by West Virginia Attorney General Patrick Morrisey, comes a month before the grocery store had been set to go to trial against the state. All other companies sued by the state over opioids had already settled.

“This is an important day for West Virginia,” Morrisey said. “This is a day of healing.”

Morrisey also touted the state’s framework for spending the funds on fighting the opioid epidemic, in which 72.5 percent will go to a newly created foundation, overseen by a board chosen by the governor and by local governments. Most of the remainder will go to local governments.

He said the framework would ensure that the money is spent well and does not disappear into a “black hole.”

A Kroger spokesperson said in an email that the company believes the lawsuit is without merit, but that the settlement was the “best path forward to resolve this litigation.”

West Virginia, which has opted out of nationwide opioid settlements totaling more than $50 billion in order to pursue cases on its own, has now secured approximately $1 billion from drugmakers, distributors and pharmacies, Morrisey said, a larger amount per capita than any other state.

West Virginia had the highest drug overdose death rate of any state in 2021, according to the U.S. Centers for Disease Control and Prevention.

Thousands of lawsuits have been filed by states, local governments and Native American tribes over opioids, accusing drug companies of downplaying opioids’ risks and distributors and pharmacies of ignoring red flags that they were being trafficked illegally.

Read the full article here

News Room May 4, 2023 May 4, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
The global economy is suffering from the Rashomon effect

I have marvelled over the past few years, and continue to marvel,…

Hong Kong listings pipeline hits record high as equity market booms

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Gaza on brink of running out of fuel in Israeli siege

Fuel stocks in Gaza have been almost completely depleted, UN officials have…

Donald Trump’s tariff deadline looms

Hello and welcome to the working week.Anyone for taco? As all of…

Netanyahu and Trump to discuss new Gaza deal at White House

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

CPS reports solid 2023 performance, eyes future growth By Investing.com

By News Room
Stocks

Niu Technologies faces mixed results in Q4 2023 By Investing.com

By News Room
Stocks

Exagen Inc. reports strong 2023 revenue growth By Investing.com

By News Room
Stocks

Legacy Housing reports mixed results amid sales decline By Investing.com

By News Room
Stocks

Harmony Biosciences exec sells over $383k in stock By Investing.com

By News Room
Stocks

Biofrontera posts record revenue and outlines growth plans By Investing.com

By News Room
Stocks

Granite Ridge CFO buys $31,000 in company stock By Investing.com

By News Room
Stocks

Coliseum Capital Management buys MasterCraft Boat shares worth over $3.2m By Investing.com

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?