Wall Street Insider Issues Crash Prediction

As AI stocks stumble/swing, Whitney Tilson just went on camera once again with his latest crash warning. If you have money in a single stock right now -- especially a tech stock -- you need to see what he's calling for today.

Walmart reaches settlement deal for shareholder lawsuits over its handling of opioids

ANNE D'INNOCENZIO
October 18, 2024

NEW YORK (AP) -- Walmart said Friday it has reached a proposed settlement pact related to three lawsuits filed by shareholders on behalf of the company over the handling of prescription opioids.

According to the terms of the settlement that were disclosed in a regulatory filing, insurance carriers will pay Walmart $123 million, excluding any attorneys' fees and expenses awarded by the court to the plaintiffs' counsel. Walmart would also maintain certain corporate governance practices for at least five years, according to the filing.

The settlement doesn't include any admission of liability by Walmart. It's subject to court approval.

Three Walmart shareholders filed lawsuits the Delaware Court of Chancery, alleging current and former directors and officers breached their fiduciary duties by failing to adequately oversee the company's distribution and dispensing of prescription opioids.

In 2022, Walmart agreed to pay $3.1 billion to settle lawsuits nationwide over the impact of prescriptions its pharmacies filled for powerful prescription opioid painkillers.

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