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HomeBusinessFor Most Nationwide Drug Claims, Kroger Will Pay Up To $1.2 Billion

For Most Nationwide Drug Claims, Kroger Will Pay Up To $1.2 Billion

The majority of the charges that Kroger contributed to the opioid epidemic by negligently monitoring its pill sales have been resolved, with the retailer announcing on Friday that it has agreed to pay $1.2 billion to American states, local governments, and Native American tribes.

According to a statement made by the firm ahead of its second-quarter earnings, the settlement will enable “complete resolution” of all claims on behalf of those parties. Following Walgreens, CVS, and Walmart last fall, Kroger is now the fourth retail pharmacy chain to declare a national settlement agreement.

The payment, according to Kroger, does not represent an acknowledgment of fault or liability, though.

In the release, the firm stated, “Kroger will continue to zealously fight against any further claims and lawsuits pertaining to opioids that the final deal does not settle.”

In early Friday trading, Kroger stock fell a little.

Over an 11-year period, Kroger will give Native American tribes $36 million in addition to $1.2 billion to US states and localities. As a result of the settlements and accompanying legal costs, the firm reported a net loss for the second quarter of $1.4 billion.

Source (CNBC)

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