Title
Resolution to Approve the City's Participation in the Settlement of National Prescription Opiate Litigation Against Opioid Distributors/Dispenser Defendants: Associated Pharmacies, Inc (and American Associated Pharmacies); J M Smith Corporation; Louisiana Wholesale Drug Company, Inc.; Morris and Dickson Co.; North Carolina Mutual Wholesale Drug Company, Inc.; and United Natural Foods, Inc. (including its subsidiaries SuperValu and Advantage Logistics) (Six Remnant Defendants)
Memorandum
The purpose of this Resolution is to approve the City's participation in the settlement agreement in the new national prescription opioid litigation against six regional distributors/dispenser defendants (Remnant Defendants Settlement): Associated Pharmacies, Inc (and American Associated Pharmacies); J M Smith Corporation; Louisiana Wholesale Drug Company, Inc.; Morris and Dickson Co.; North Carolina Mutual Wholesale Drug Company, Inc.; and United Natural Foods, Inc. (including its subsidiaries SuperValu and Advantage Logistics) (Six Remnant Defendants). There is one settlement agreement covering the combined settlement with the Six Remnant Defendants.
If effectuated, the proposed Remnant Defendants Settlement will result in the Six Remnant Defendants paying a combined $97,625,000.00 in cash for purposes of abating the opioid epidemic. An Eligible Entity's participation in the Remnant Defendants Settlement, the Settlement will result in a one-time settlement payment to each Eligible Entity. The City has been deemed an Eligible Entity. The Settlement funds must be used for the Core Strategies and Approved Uses set forth in Exhibit D of the Remnant Defendant Settlement Agreement.
The Remnant Defendants Settlement does not include State Attorneys General or any amount allocated to a State. Rather, this Settlement will be distributed only and directly to any Eligible Entity that participates by signing and returning the Combined Subdivision Participation and Release Form by...
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