Charles Lewis
3 years ago
Nevada Rejects Multistate $26 Billion Opioid Settlement Deal LAS VEGAS, NEVADA – A news article on apnews.com reports that Nevada rejected the multistate $26 billion dollar opioid settlement agreed upon by opioid manufacturers and distributors. Nevada and a few other states rejected the opioid settlement reached and will continue to seek separate financial compensation. According […]
Opioid Settlement
LAS VEGAS, NEVADA – A news article on apnews.com reports that Nevada rejected the multistate $26 billion dollar opioid settlement agreed upon by opioid manufacturers and distributors. Nevada and a few other states rejected the opioid settlement reached and will continue to seek separate financial compensation. According to Nevada’s Attorney General, the settlement deal does not adequately compensate for the tragedy of the opioid crisis.
Nevada’s Attorney General, Aaron Ford, praised the states for fighting hard to reach the multistate settlements, but he stated that Nevada had rejected the settlement agreements that were reached last month with drug maker Johnson & Johnson and the three United States drug distribution companies.
Under the settlement agreement, Nevada would have collected a total of “$282 million over the next 18 years,” according to an aide. The funds would then be distributed to local jurisdictions. Ford also announced the formation of a program that would distribute the money that Nevada obtains in a fair and equitable manner.
Attorney General Ford portrayed the settlement amount as inadequate because of the “484 opioid-related deaths in Nevada in 2020,” which accounted for a 40% increase over 2019.
According to Attorney General Ford, the state of Nevada proceeds to be one of the most affected states by the opioid emergency, and the payment for Nevadans has to be proportional to the injury these corporations produced. He also stated that he and his office would be working toward a resolution that will satisfactorily address the destruction felt by every Nevadan who endured the hardship of the opioid crisis.
Saturday was the deadline for states to join or decline the deal. The deal includes the defendants not being required to admit to any wrongdoing. Local state governments have five more months to make a decision to join or reject the settlement agreements.
According to the lawyers who negotiated the multistate opioid settlement, 44 states have opted into the agreement, and the attorneys hoped the defendants would this as overwhelming support.
The news report states that “Alabama, New Mexico, Oklahoma, Washington, and West Virginia” also rejected the opioid settlement deals, while New Hampshire agreed to the settlement with AmerisourceBergen Corp., McKesson Corp., and Cardinal Health Inc., but did not settle with Johnson & Johnson.
The opioid settlement agreement will compel Johnson & Johnson to pay out a total of $5 billion, and the distributors would be required to pay out a total of $21 billion.
Were you or a loved one harmed by opioids? Parker Waichman LLP helps families recover monetary compensation for harm caused by these dangerous drugs. For your free consultation, contact our law firm today by using our live chat or calling 1-800-YOUR-LAWYER (1-800-968-7529).