Under the terms of the settlement, disclosed in a regulatory filing, the insurance carriers will pay Walmart $123 million, less any attorneys’ fees and expenses the court awarded to the plaintiffs’ attorney. According to the filing, Walmart would also maintain certain corporate governance practices for at least five years.

The settlement does not include an admission of liability by Walmart. It requires court approval.

Three Walmart shareholders filed lawsuits in the Delaware Court of Chancery alleging current and former directors and officers breached their fiduciary duties by failing to adequately monitor the company’s distribution and dispensing of prescription opioids.

In 2022, Walmart agreed to pay $3.1 billion to settle lawsuits nationwide over the impact of prescriptions for powerful prescription opioid painkillers in its pharmacies.