Albertsons Settles Opioid Claims for $774 Million

reached a $774 million settlement framework to resolve opioid-related claims brought by state, local, and tribal governments nationwide, resulting in a pre-tax charge of approximately $600 million and a reported operating loss of roughly $480 million last quarter. This settlement, which Albertsons will pay out over nine years, represents one of the most significant financial accountability measures imposed on a major pharmacy chain for its role in the opioid crisis, according to Levin Papantonio attorneys.

Albertsons operates 1,713 in-store pharmacies across its network of 2,244 retail food and drug stores in 35 states and the District of Columbia, under banners including Safeway, Vons, and Jewel-Osco. The company stated the settlement is not an admission of wrongdoing or liability.

The $774 million settlement amount represents approximately 9% of Albertsons' $8.66 billion market capitalization. Levin Papantonio attorneys, including Peter Mougey, Laura Dunning, Page Poerschke, and Jeff Gaddy, were part of the legal team driving accountability in the national opioid litigation, contributing to over $60 billion in recoveries for communities.

Funds from these government opioid lawsuit settlements are directed toward addiction treatment, prevention, and community education.