McKinsey Settles Opioid Class Action for $230 Million
Major consulting firm McKinsey & Co. has announced that it will pay $230 million to settle lawsuits by local governments and school districts against it relating to the opioid epidemic. The firm is alleged to have been an active participant in efforts to encourage the spread of opioid addiction through its work for major producers of prescription painkillers. This settlement is the latest in a string of similar litigation, including a settlement with state attorneys general to settle suits totaling more than $640 million.
What is McKinsey & Co.?
McKinsey & Co. is one of the world’s largest management consulting firms, which provides consulting services to some of the world’s biggest and wealthiest companies. It employs an estimated 38,000 people, with an estimated gross annual revenue of $12.5 billion. It is facing major litigation as a result of its work for major opioid manufacturers, such as the now-defunct Purdue Pharma.
What is the Opioid Epidemic?
The opioid epidemic is the term for a years-long crisis across the United States where a large number of people have become addicted to opioid painkillers, including morphine, oxytocin, oxymorphone, and fentanyl, among others. This epidemic was allegedly enabled by pharmaceutical companies, doctors, pain management facilities, and others for the sake of making greater profits. As a result, millions of Americans have suffered from opioid addiction, which can potentially result in death.
Why Did They Agree to This Settlement?
McKinsey agreed to settle a number of lawsuits by local governments and school districts due to its alleged role in promoting opioid addiction. According to the lawsuits, they were active participants in promoting the prescription of opioid painkillers, including downplaying the potential risks and side effects of using these painkillers, as well as helping pharmaceutical companies to design deceptive marketing plans. In order to settle these suits, McKinsey will pay $230 million to a number of municipalities and school districts, which is in addition to a $640 million settlement they paid out to state attorneys general for a separate set of lawsuits.
What Should You Do?
If you or someone you love has suffered from opioid addiction as a result of being improperly prescribed prescription painkillers, you may be able to seek compensation for the harm you have suffered. However, to know what options you may have available, you should speak to a lawyer with experience handling personal injury and medical malpractice cases. They can help you build a legal strategy that suits your needs, and get you the justice you deserve.
If you or someone you love has been injured due to someone else’s negligence, seeking the advice from an attorney experienced in personal injury law will help assure you get the compensation you deserve. The lawyers at Levine and Slavit, PLLC assist clients in New York City and Long Island in obtaining the damages they need to cope with being the victim of negligence. For more information or to schedule a consultation with our New York personal injury lawyers, call (888) LAW-8088 or fill out our contact form.