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How will McKinsey's settlement impact its reputation among Fortune 500 companies by end of 2025?
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McKinsey Agrees to $650 Million Settlement with DOJ Over Opioid Consulting and Deferred-Prosecution Agreement
Dec 17, 2024, 01:32 PM
Consulting firm McKinsey & Company has agreed to pay $650 million to resolve a Department of Justice (DOJ) investigation regarding its role in advising Purdue Pharma on increasing OxyContin sales. This settlement comes as part of a deferred-prosecution agreement, allowing McKinsey to avoid criminal charges related to its consulting work that contributed to the opioid epidemic. Critics have expressed concern over the leniency of the settlement, highlighting the firm's significant financial gains from its opioid-related consulting, which coincided with a rise in overdose deaths. The DOJ's decision has sparked debate about the accountability of corporations involved in the opioid crisis, particularly in light of McKinsey's past actions and its ongoing relationship with government entities.
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