The settlement, announced in this press release, was reached in the course of the pharmacy’s bankruptcy proceedings in Boston. The actual settlement has not yet been filed with the court.
According to bankruptcy trustee Paul Moore of Duane Morris, a substantial portion of this $100 million will be paid directly by the pharmacy’s owners with insurers paying the balance. The agreement was negotiated by the unsecured creditors committee, represented by David Molton and William Baldiga of Brown Rudnick and Anne Andrews of Andrews Thornton. Thomas Sobol of Hagens Berman Sobol Shapiro negotiated for the plaintiffs steering committee.
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