Benzinga | Jul 22, 2021 12:34PM EDT

Endo Int'l. Reports Deal In Principle To Settle Tennessee Start Court Case

Endo International plc (NASDAQ:ENDP) today announced that its wholly-owned subsidiaries Endo Health Solutions Inc. and Endo Pharmaceuticals Inc. (collectively, "Endo") have reached an agreement in principle to settle an opioid-related case originally captioned as Staubus, et al. v. Purdue Pharma, L.P., et al., Case No. C-41916, in the Circuit Court for Sullivan County, Tennessee.



The Staubus case involves claims by nine counties in eastern Tennessee, eighteen cities and towns within those counties and one individual plaintiff. In April 2021, the trial court entered a default judgment on liability as a sanction for alleged discovery improprieties. A damages trial was scheduled to begin on July 26, 2021.

The settlement, which remains subject to final approval by certain plaintiffs and the execution of definitive documentation, would fully and finally resolve the case in exchange for a total payment by Endo of $35 million to be apportioned among all 28 plaintiffs in their discretion. The damages trial has been adjourned until August 2, 2021 to allow the remaining plaintiff approvals to be obtained. The settlement will include no admission of wrongdoing, fault or liability of any kind by Endo, and the settlement value should not be extrapolated to any other opioid-related cases or claims.