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CVS, Walmart, Walgreens ordered to pay $650M to two Ohio counties
Posted: August 17th, 2022, 3:37 pm
by Brian Lutz
https://komonews.com/news/nation-world/ ... drugmakers
A Federal judge has ordered CVS, Walgreens and Walmart to pay a total of $650 million to Lake and Trumbull Counties in Ohio over the next 15 years for "harm to the communities" caused by their distribution of opioids. The plaintiffs were seeking $3 billion. Giant Eagle and Rite Aid were also targeted, but had settled out of court previously.
Re: CVS, Walmart, Walgreens ordered to pay $650M to two Ohio counties
Posted: August 18th, 2022, 5:18 pm
by lake52
Brian Lutz wrote: ↑August 17th, 2022, 3:37 pm
https://komonews.com/news/nation-world/ ... drugmakers
A Federal judge has ordered CVS, Walgreens and Walmart to pay a total of $650 million to Lake and Trumbull Counties in Ohio over the next 15 years for "harm to the communities" caused by their distribution of opioids. The plaintiffs were seeking $3 billion. Giant Eagle and Rite Aid were also targeted, but had settled out of court previously.
Politics aside and strictly speaking of retail business, this will absolutely cause the downfall of drugstore chains.
This is now the second occurrence (San Francisco was first) that a judge has ruled against the companies. The states of Florida, Kentucky and Tennessee, along with numerous counties and cities are also currently involved in litigation. The fact that some of the chains settled out of courts tells you enough of how confident their legal departments are feeling.
Re: CVS, Walmart, Walgreens ordered to pay $650M to two Ohio counties
Posted: August 18th, 2022, 5:34 pm
by norcalriteaidclerk
lake52 wrote:Brian Lutz wrote: ↑August 17th, 2022, 3:37 pm
https://komonews.com/news/nation-world/ ... drugmakers
A Federal judge has ordered CVS, Walgreens and Walmart to pay a total of $650 million to Lake and Trumbull Counties in Ohio over the next 15 years for "harm to the communities" caused by their distribution of opioids. The plaintiffs were seeking $3 billion. Giant Eagle and Rite Aid were also targeted, but had settled out of court previously.
Politics aside and strictly speaking of retail business, this will absolutely cause the downfall of drugstore chains.
This is now the second occurrence (San Francisco was first) that a judge has ruled against the companies. The states of Florida, Kentucky and Tennessee, along with numerous counties and cities are also currently involved in litigation. The fact that some of the chains settled out of courts tells you enough of how confident their legal departments are feeling.
Please tell me that this means that Rite Aid could potentially outlast the traditional two industry peers and/or Walmart;and not simply because I'm a 24-year RAD veteran.I wonder if this was why all big three drugstore stocks were down by varying amounts today on Wall Street.
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Re: CVS, Walmart, Walgreens ordered to pay $650M to two Ohio counties
Posted: August 19th, 2022, 12:29 am
by storewanderer
lake52 wrote: ↑August 18th, 2022, 5:18 pm
Politics aside and strictly speaking of retail business, this will absolutely cause the downfall of drugstore chains.
This is now the second occurrence (San Francisco was first) that a judge has ruled against the companies. The states of Florida, Kentucky and Tennessee, along with numerous counties and cities are also currently involved in litigation. The fact that some of the chains settled out of courts tells you enough of how confident their legal departments are feeling.
I wonder how much of this may be covered by insurance... if anything... on the lawsuits...
Every state is going to jump on this. It will be like the tobacco lawsuits.