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.

Spencer Platt/Getty Images

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.

Read more

Louisiana Attorney General Jeff Landry gave a statement on the current power of corporations and what may lie ahead for Big Tech.

Our 4th of July Super Sale has been extended! Get double Patriot Points and free shipping on the hottest items!

Related Articles