OxyContin-maker Purdue Pharma has reached an agreement with the Oklahoma Attorney General’s office to settle a lawsuit that accused it of helping ignite the nationwide opioid crisis, a person familiar with the situation confirmed to CNBC.
The details of the settlement are expected to be released at a press conference Tuesday afternoon. The Wall Street Journal reported the agreement totaled $270 million.
Purdue and other manufacturers faced a trial in May in a case brought by Oklahoma Attorney General Mike Hunter. Accusations against the Stamford, Connecticut-based company include downplaying the addiction risk of opioids while overstating the benefits.
Louisiana Attorney General Jeff Landry gave a statement on the current power of corporations and what may lie ahead for Big Tech.