Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
The Kroger Company will settle its opioids lawsuit in West Virginia by paying $68 million. In this case, the retailer was accused of contributing to the oversupply of the said drugs that are legally available with a prescription.
The state of West Virginia also alleged that Kroger failed to control the sale of opioids which is a type of drug that includes heroin which is illegal. Synthetic opioids like fentanyl and pain relievers are being sold to patients with prescriptions so they can be purchased in leading drug stores.
Patrick Morrisey, the West Virginia Attorney General, confirmed on Thursday, May 3, that Kroger has settled the lawsuit. The Cincinnati, Ohio-headquartered retail chain is the last defendant in the case, which also involves other major drug stores in the United States, including Rite Aid, Walgreens, CVS, and Walmart.
“Although the hundreds of millions of dollars we secured from these companies will not bring back the lives lost from the opioid menace, our hope is that the money would provide significant help to those affected the most by this crisis in the state,” the attorney general said in a statement.
On the other hand, Kroger’s spokesman also commented that while the company “continues to believe that the allegations made against Kroger in this and other opioid lawsuits are without merit, we have decided that a settlement is the best path forward to resolve this litigation.”
At any rate, CNN Business reported that despite the hefty payment to resolve the opioid suit, the financial impact on Kroger will remain minimal. This is because it reported $4.1 billion in earnings in 2022.
Walgreens also settled with the state of West Virginia in January this year and paid $83 million, while CVS and Walmart resolved the suit with settlements of $82.5 million and $65 million, respectively, in late 2022. In the case of Rite Aid, it paid up to $30 million in August of last year.
Photo by: Mike Kalasnik/Flickr (CC BY-SA 2.0)
