By Connor HartWalmart has reached a proposed settlement agreement in connection with three lawsuits regarding its distribution of prescription opioids. The settlement, which doesn't include any admission of liability, is subject to court approval, the retailer said in a Securities and Exchange Commission filing Friday. Under its terms, insurance carriers would pay the company $123 million, minus any awarded attorneys' fees and litigation expenses, and the company would maintain certain corporate governance practices for at least five years. If approved, the settlement would resolve certain shareholder derivative actions and release other potential derivative claims, Walmart said. Write to Connor Hart at connor.hart@wsj.com(END) Dow Jones Newswires10-18-24 1703ET

Source: Wall Street Journal October 19, 2024 09:07 UTC