Benzinga | Aug 4, 2021 07:35AM EDT

Endo Announces Execution Of Definitive Settlement Agreement And Release Resolving Tennessee State Court Case; Agreement Resolves All Opioid-Related Claims By Plaintiffs In Exchange For $35M Payment

Endo International plc (NASDAQ:ENDP) today announced that its wholly-owned subsidiaries Endo Health Solutions Inc. and Endo Pharmaceuticals Inc. (collectively, "Endo") have executed a definitive Settlement Agreement and Release (the "Settlement Agreement") resolving 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 involved claims by nine counties in eastern Tennessee, eighteen cities and towns within those counties and one individual plaintiff. The Settlement Agreement resolves all opioid-related claims that were or could have been asserted by the plaintiffs, in the Staubus case or elsewhere, in exchange for a total payment by Endo of $35 million to be apportioned among the plaintiffs in their discretion. The settlement includes 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.