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Lawyer: The $ 35 million settlement was the best and last offer of an opioid company | Nationwide

Nashville, Tennessee (AP) —A lawyer who helped reach a $ 35 million settlement with an opioid manufacturer about the company’s role in the epidemic in Tennessee said his team was the “last, best, best,” of the pharmaceutical company. The agreement avoids the possible complexity of the jury’s verdict, stating that it has accepted the “last” proposal.

Gerald Strand, who represents the plaintiffs in the proceedings against Endo in Tennessee, told reporters that $ 35 million was “the maximum amount Endo would be willing to pay or pay.” Endo announced a settlement last weekJust a few days before the trial, a hearing with the local government would have begun on how much award would be given to a child born depending on the opioid that was sued.

Mr Strand said the company could have declared bankruptcy, even with the jury’s verdict, as money could have been detained in the appeal.

“We have come to the conclusion that this is the best dollar we can collect and put into the community,” Stranch said.

Already a judge Opioid company ruled to be liable in April without a civil trial Regarding its role in the epidemic, he says a rare default decision he entered for a “coordinated strategy” by the company and its lawyers to delay proceedings, steal plaintiffs and interfere with judicial administration. I did.

In a news release last week, Mr. Endo said that the settlement involving the two subsidiaries “does not include any kind of misconduct, negligence or liability by Mr. Endo, and the settlement amount is outside of other opioid-related cases or claims. It should not be inserted. ” .. “

Strunch expects all relevant municipalities (9 counties and 18 municipalities in northeastern Tennessee) to sign by early next week and begin to drain money into the community within a week. Stated.

He said the money for a child born of opioids, commonly known as Baby Doe, would be deducted, put into a trust fund, and attorneys’ fees and expenses would be deducted. Each county receives a lump sum sufficient to fund the mobile addiction unit, and the rest is divided by population among the counties, according to Strand. He said the county could spend the money as they wanted.

Headquartered in the United States in Pennsylvania, Endo is the last remaining active corporate defendant in the 2017 proceedings after Marin Clot and Purdue Pharma filed for bankruptcy. Plaintiffs have filed a proceeding for $ 2.4 billion. Judge EG Moody, Prime Minister of the Sullivan County Circuit Court, wrote that there was “expert testimony to support the amount.”

The proceedings alleged that Mr Endo was liable under the Tennessee Drug Dealer Liability Act. This is a strategy approved by the State Supreme Court in a similar case in its December 2020 opinion.

The same Supreme Court ruling said local prosecutors could no longer be plaintiffs in similar cases. The district attorney continues to be involved in the Baby Doe case.

Last week the government Announce potential reconciliation Opioid proceedings with the three largest domestic drug distributors and pharmaceutical companies Johnson & Johnson are worth up to $ 26 billion, depending on the number of jurisdictions signed. Tennessee Attorney General Herbert Slateley was one of the main negotiators of the settlement.

Other companies, including OxyContin maker Purdue Pharma, are also approaching a national settlement. However, proceedings are proceeding against drug wholesalers, pharmacies, and manufacturers such as Endo in areas that have not reached a settlement.

Copyright 2021 AP communication. all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

Lawyer: The $ 35 million settlement was the best and last offer of an opioid company | Nationwide

Source link Lawyer: The $ 35 million settlement was the best and last offer of an opioid company | Nationwide

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