McKinsey Faces Criminal Probe By DOJ For Opioid Consulting: Report
Portfolio Pulse from Benzinga Neuro
The U.S. Department of Justice is conducting a criminal investigation into McKinsey & Company for its consulting role in advising opioid manufacturers on sales strategies, potentially including obstruction of justice. The probe, involving a grand jury in Virginia, focuses on McKinsey's work with pharmaceutical clients like Purdue, Endo International, and Mallinckrodt, all of which have filed for bankruptcy amid lawsuits over opioid marketing practices. McKinsey previously settled with all 50 states for $642 million without admitting wrongdoing.
April 25, 2024 | 5:05 am
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Publicis Groupe, mentioned for its $350 million settlement over its alleged role in the opioid crisis, could face increased scrutiny and potential reputational damage as the investigation into McKinsey highlights ongoing legal battles in the opioid epidemic.
While the article does not directly implicate Publicis Groupe in the current investigation, the mention of its previous settlement in the context of the opioid crisis could lead to negative sentiment among investors, potentially impacting its stock price in the short term due to increased scrutiny and concerns over further legal implications or reputational damage.
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