WMT Walmart Inc

By Denny Jacob

Walmart said a settlement tied to opioid-crisis lawsuits will go into effect next month after an administrator determined a sufficient number of participants had agreed to the framework.

The retailer will pay the remaining $2.8 billion of the original estimated $3.3 billion accrued liability in the third quarter of fiscal 2024.

Bentonville, Ark.-based Walmart said eligible political subdivisions will have until July 15, 2025, to join the settlement framework, which will become effective on Sept. 6.

Walmart in November agreed to pay $3.1 billion to settle lawsuits brought by several U.S. states and municipalities. It said at the time it took $3.3 billion in charges related to the settlements. Walmart has said that it disputes allegations made in the lawsuits and that the settlement isn't an admission of liability.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 22, 2023 17:36 ET (21:36 GMT)

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