Albertsons Reaches $774 Million Opioid Settlement with State, Local and Tribal Governments; Levin Papantonio Attorneys Among Legal Team Driving Pharmacy Accountability

Albertsons Companies, Inc. has agreed to a $774 million settlement framework to resolve opioid-related claims brought by state, local, and tribal governments. The nine-year payout is a significant accountability measure against a major pharmacy chain for its role in the opioid crisis. Albertsons, operating over 1,700 in-store pharmacies under various banners, maintains the settlement is not an admission of wrongdoing, but the company recorded a $600 million pre-tax charge last quarter, resulting in a $480 million operating loss. Attorneys from Levin Papantonio, including Peter Mougey, Laura Dunning, Page Poerschke, and Jeff Gaddy, were instrumental in driving this accountability, having been involved in national opioid litigation for over a decade and contributing to over $60 billion in recoveries.

Jeff Gaddy of Levin Papantonio stated the settlement “sends a clear message” that pharmacy chains must take responsibility for fueling the opioid crisis and will provide resources for those suffering from opioid abuse. Levin Papantonio has a strong track record in this litigation, including securing a $500 million settlement with Walgreens in New Mexico and contributing to the San Francisco case that catalyzed the national settlement.

The funds from these settlements will be directed towards addiction treatment, prevention, and community education in the states, counties, and municipalities that have borne the costs of the opioid epidemic. Levin Papantonio, founded in 1955, has a history of securing over $80 billion in verdicts and settlements and has represented nearly 2,000 governmental entities in major litigation.

(Source：Financialcontent)