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Collegium Announces Master Settlement Agreement Resolving Pending Opioid-Related Litigation
STOUGHTON, Mass., March 30, 2022 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL) today announced the execution of a Master Settlement
About this update from Collegium Pharmaceutical, Inc.
[{"type":"text","content":"STOUGHTON, Mass., March 30, 2022 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc. (Nasdaq: COLL) today announced the execution of a Master Settlement Agreement resolving all 27 pending opioid-related lawsuits brought against the Company by cities, counties, and other subdivisions in the United States on March 18, 2022. The execution of this Master Settlement Agreement represents the implementation of a previously announced settlement framework with these parties in December 2021. As part of the Master Settlement Agreement, the Company paid $2.75 million to the plaintiffs and the cases will be dismissed, with prejudice, in the coming weeks. The Company entered into the Master Settlement Agreement to efficiently resolve this litigation without an admission of liability or wrongdoing. “We are pleased at the resolution of Collegium’s opioid-related litigation,” said Shirley Kuhlmann, EVP, General Counsel and Chief Administrative Officer of Collegium. “This is an important step for our organization as we continue to build a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions.” About Collegium Pharmaceutical, Inc.Collegium is building a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions. Collegium’s headquarters are located in Stoughton, Massachusetts. For more information, please visit the Company’s website at www.collegiumpharma.com. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as \"predicts,\" \"forecasts,\" \"believes,\" \"potential,\" \"proposed,\" \"continue,\" \"estimates,\" \"anticipates,\" \"expects,\" \"plans,\" \"intends,\" \"may,\" \"could,\" \"might,\" \"should\" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Examples of forward-looking statements contained in this press release include, among others, statements related to the disposition of currently pending lawsuits, expectations (financial or otherwise) and intentions, and other statements that are not historical facts. Such statements are subject to numerous important factors, risks and ...